Avondale Wealth Management Lowers Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avondale Wealth Management cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 37.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,375 shares of the semiconductor manufacturer’s stock after selling 4,325 shares during the quarter. Advanced Micro Devices makes up approximately 0.6% of Avondale Wealth Management’s holdings, making the stock its 25th biggest holding. Avondale Wealth Management’s holdings in Advanced Micro Devices were worth $891,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMD. State Street Corp raised its position in shares of 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 holdings in shares of 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 valued at $5,597,337,000 after buying an additional 441,924 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of 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 buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Advanced Micro Devices by 8.7% during 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 acquiring an additional 1,565,083 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after acquiring an additional 188,580 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AMD shares. Piper Sandler restated an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Mizuho lowered their target price on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the company from $180.00 to $155.00 in a research note on Monday, December 9th. Benchmark reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, UBS Group cut their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $185.96.

Advanced Micro Devices Price Performance

Shares of AMD stock traded down $5.63 during trading hours on Friday, hitting $116.21. 25,081,754 shares of the company’s stock were exchanged, compared to its average volume of 37,799,559. The firm has a 50 day moving average of $133.09 and a two-hundred day moving average of $147.05. Advanced Micro Devices, Inc. has a fifty-two week low of $114.45 and a fifty-two week high of $227.30. The firm has a market cap of $188.59 billion, a P/E ratio of 104.69, a P/E/G ratio of 1.88 and a beta of 1.66. 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 posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.65% of the company’s stock.

Advanced Micro Devices 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.