Independence Bank of Kentucky Acquires 2,847 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Independence Bank of Kentucky boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,533 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,847 shares during the quarter. Independence Bank of Kentucky’s holdings in Advanced Micro Devices were worth $3,326,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC grew its holdings in shares of Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC grew its stake in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $26,000. Retirement Wealth Solutions LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $32,000. Finally, FSA Wealth Management LLC bought a new stake in Advanced Micro Devices during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 2.4 %

NASDAQ AMD opened at $115.95 on Friday. 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 stock’s 50-day moving average is $125.92 and its 200-day moving average is $141.49. Advanced Micro Devices, Inc. has a one year low of $112.80 and a one year high of $227.30. The firm has a market cap of $188.16 billion, a P/E ratio of 104.46, a P/E/G ratio of 1.04 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMD shares. Citigroup cut their price objective on Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Susquehanna reduced their price target on shares of Advanced Micro Devices from $200.00 to $165.00 and set a “positive” rating on the stock in a research report on Wednesday. Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Finally, KeyCorp lowered their price target on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $169.77.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction 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 owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices 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 in the company, 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. In the last ninety days, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is owned by corporate insiders.

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.