ProShare Advisors LLC Decreases Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

ProShare Advisors LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) by 18.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,750,716 shares of the semiconductor manufacturer’s stock after selling 389,907 shares during the quarter. ProShare Advisors LLC owned about 0.11% of Advanced Micro Devices worth $110,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMD. Fairfield Bush & CO. purchased a new stake in Advanced Micro Devices in the first quarter valued at about $836,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Advanced Micro Devices by 49.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,384,719 shares of the semiconductor manufacturer’s stock valued at $260,746,000 after buying an additional 791,710 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Advanced Micro Devices by 34.9% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 2,677 shares of the semiconductor manufacturer’s stock valued at $293,000 after buying an additional 692 shares during the last quarter. Raymond James Trust N.A. raised its stake in Advanced Micro Devices by 104.8% in the first quarter. Raymond James Trust N.A. now owns 7,959 shares of the semiconductor manufacturer’s stock valued at $870,000 after buying an additional 4,072 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Advanced Micro Devices by 217.2% in the first quarter. Baird Financial Group Inc. now owns 398,051 shares of the semiconductor manufacturer’s stock valued at $43,524,000 after buying an additional 272,557 shares during the last quarter. 67.17% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Trading Down 1.3 %

Advanced Micro Devices stock traded down $0.94 during trading on Wednesday, reaching $73.76. 5,436,602 shares of the company were exchanged, compared to its average volume of 50,590,238. Advanced Micro Devices, Inc. has a 52-week low of $54.57 and a 52-week high of $132.96. The company has a market capitalization of $118.93 billion, a P/E ratio of 44.73, a PEG ratio of 2.19 and a beta of 2.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.16 and a quick ratio of 1.65. The stock’s 50 day simple moving average is $69.65 and its two-hundred day simple moving average is $74.75.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The semiconductor manufacturer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Advanced Micro Devices had a return on equity of 11.17% and a net margin of 9.96%. During the same quarter in the previous year, the business posted $0.66 EPS. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AMD shares. Craig Hallum cut their price objective on Advanced Micro Devices from $130.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 7th. Sanford C. Bernstein lowered Advanced Micro Devices from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $95.00 to $80.00 in a report on Tuesday. UBS Group raised Advanced Micro Devices from a “neutral” rating to a “buy” rating and increased their price objective for the company from $75.00 to $95.00 in a report on Monday, November 14th. Piper Sandler cut their price objective on Advanced Micro Devices from $140.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 6th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $90.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.71.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 16,153 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $70.95, for a total transaction of $1,146,055.35. Following the completion of the sale, the executive vice president now owns 113,875 shares of the company’s stock, valued at $8,079,431.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Advanced Micro Devices Company Profile

(Get Rating)

Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.

Further Reading

Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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