Gateway Investment Advisers LLC Sells 8,368 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Gateway Investment Advisers LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 370,641 shares of the semiconductor manufacturer’s stock after selling 8,368 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Advanced Micro Devices were worth $44,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in 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 valued at $1,289,818,000 after buying an additional 7,815,305 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of 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 in the last quarter. State Street Corp grew its stake in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Advanced Micro Devices by 11.3% in the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after buying an additional 975,220 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock traded down $1.20 on Thursday, reaching $118.76. 5,374,742 shares of the company traded hands, compared to its average volume of 38,343,934. The company has a 50 day moving average of $131.60 and a 200 day moving average of $145.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. Advanced Micro Devices, Inc. has a 52 week low of $114.41 and a 52 week high of $227.30. The firm has a market capitalization of $192.72 billion, a PE ratio of 106.99, a PEG ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on AMD. Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Loop Capital initiated coverage on Advanced Micro Devices in a research note on Tuesday. They issued a “buy” rating and a $175.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is owned by insiders.

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.