Cim Investment Management Inc. Trims Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cim Investment Management Inc. trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,761 shares of the semiconductor manufacturer’s stock after selling 253 shares during the quarter. Cim Investment Management Inc.’s holdings in Advanced Micro Devices were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the period. Fisher Asset Management LLC boosted its stake in Advanced Micro Devices by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after purchasing an additional 644,039 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Advanced Micro Devices by 8.7% in the 3rd 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 during the period. Finally, Legal & General Group Plc boosted its stake in Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after purchasing an additional 188,580 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

AMD stock traded up $1.46 during trading on Thursday, hitting $131.61. 3,227,593 shares of the company traded hands, compared to its average volume of 53,690,863. The stock’s 50-day simple moving average is $148.24 and its 200 day simple moving average is $152.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a market cap of $213.58 billion, a PE ratio of 117.25, a P/E/G ratio of 1.91 and a beta of 1.66. Advanced Micro Devices, Inc. has a 1 year low of $121.82 and a 1 year high of $227.30.

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

Insider Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s 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 transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock valued at $28,165,821 over the last ninety days. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMD. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Evercore ISI increased their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho lowered their target price on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $192.36.

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.