Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Quarry LP

Quarry LP lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 72.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 274 shares of the semiconductor manufacturer’s stock after selling 735 shares during the period. Quarry LP’s holdings in Advanced Micro Devices were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AMD. Royal London Asset Management Ltd. raised its holdings in shares of Advanced Micro Devices by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 710,726 shares of the semiconductor manufacturer’s stock valued at $116,616,000 after buying an additional 18,622 shares during the last quarter. Pingora Partners LLC increased its position in Advanced Micro Devices by 13.5% in the 3rd quarter. Pingora Partners LLC now owns 2,770 shares of the semiconductor manufacturer’s stock valued at $455,000 after acquiring an additional 330 shares during the period. Point72 Italy S.r.l. purchased a new stake in Advanced Micro Devices during the 3rd quarter valued at approximately $24,595,000. Polymer Capital Management HK LTD lifted its position in Advanced Micro Devices by 1,492.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 39,800 shares of the semiconductor manufacturer’s stock worth $6,530,000 after acquiring an additional 37,300 shares during the period. Finally, Menard Financial Group LLC grew its stake in shares of Advanced Micro Devices by 9.5% in the 3rd quarter. Menard Financial Group LLC now owns 5,381 shares of the semiconductor manufacturer’s stock valued at $883,000 after purchasing an additional 466 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMD shares. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Mizuho reduced their target price on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Barclays dropped their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $180.00 to $155.00 in a research report on Monday. Finally, UBS Group dropped their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $192.36.

Advanced Micro Devices Trading Down 2.4 %

Shares of AMD stock opened at $127.74 on Wednesday. Advanced Micro Devices, Inc. has a twelve month low of $121.82 and a twelve month high of $227.30. The company has a market capitalization of $207.30 billion, a price-to-earnings ratio of 115.08, a PEG ratio of 1.91 and a beta of 1.66. The firm has a 50-day moving average price of $149.48 and a 200 day moving average price of $153.01. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Research analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 over the last quarter. Company insiders own 0.65% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.