Kentucky Retirement Systems Insurance Trust Fund Cuts Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,919 shares of the semiconductor manufacturer’s stock after selling 4,214 shares during the period. Advanced Micro Devices comprises about 0.5% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 28th largest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Advanced Micro Devices were worth $7,863,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Jupiter Asset Management Ltd. purchased a new position in Advanced Micro Devices in the 1st quarter valued at approximately $1,215,000. Edgestream Partners L.P. boosted its holdings in Advanced Micro Devices by 456.7% in the first quarter. Edgestream Partners L.P. now owns 46,562 shares of the semiconductor manufacturer’s stock valued at $8,404,000 after purchasing an additional 38,198 shares during the period. Catalytic Wealth RIA LLC acquired a new position in Advanced Micro Devices during the 1st quarter worth $892,000. Ironwood Investment Counsel LLC increased its holdings in Advanced Micro Devices by 8.9% during the 1st quarter. Ironwood Investment Counsel LLC now owns 5,078 shares of the semiconductor manufacturer’s stock worth $917,000 after purchasing an additional 413 shares during the period. Finally, NWK Group Inc. raised its position in Advanced Micro Devices by 2.0% in the 1st quarter. NWK Group Inc. now owns 66,601 shares of the semiconductor manufacturer’s stock valued at $12,021,000 after purchasing an additional 1,279 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMD shares. TD Cowen lowered their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Bank of America reiterated a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Finally, Robert W. Baird cut their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Trading Down 2.8 %

NASDAQ AMD opened at $134.90 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $218.92 billion, a P/E ratio of 121.53, a P/E/G ratio of 1.93 and a beta of 1.71. Advanced Micro Devices, Inc. has a 52-week low of $116.37 and a 52-week high of $227.30. The firm has a 50-day moving average price of $154.51 and a 200 day moving average price of $155.02.

Advanced Micro Devices (NASDAQ:AMD) last issued its 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. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts expect that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

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.