Morse Asset Management Inc Sells 3,593 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Morse Asset Management Inc cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 26,046 shares of the semiconductor manufacturer’s stock after selling 3,593 shares during the period. Morse Asset Management Inc’s holdings in Advanced Micro Devices were worth $4,274,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AMD. International Assets Investment Management LLC increased its stake in shares of Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after buying an additional 7,815,305 shares during the period. Van ECK Associates Corp increased its stake in shares of Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after buying an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. increased its position in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Renaissance Technologies LLC purchased a new position in Advanced Micro Devices during the 2nd quarter valued at $296,178,000. Finally, State Street Corp increased its position in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on AMD. Mizuho reduced their price objective on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a report on Monday, October 28th. Barclays dropped their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. UBS Group dropped their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $192.36.

Advanced Micro Devices Stock Up 1.9 %

Shares of AMD opened at $130.15 on Thursday. The company has a market cap of $211.21 billion, a PE ratio of 117.25, a P/E/G ratio of 1.91 and a beta of 1.66. The business has a fifty day moving average of $148.84 and a 200 day moving average of $152.74. Advanced Micro Devices, Inc. has a 52-week low of $121.82 and a 52-week high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock worth $28,165,821 over the last quarter. Company insiders own 0.65% of the company’s stock.

Advanced Micro Devices Company Profile

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.