Victory Capital Management Inc. Trims Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Victory Capital Management Inc. decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.8% during the third quarter, HoldingsChannel.com reports. The firm owned 1,402,014 shares of the semiconductor manufacturer’s stock after selling 117,901 shares during the period. Victory Capital Management Inc.’s holdings in Advanced Micro Devices were worth $230,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMD. Harvest Portfolios Group Inc. grew its position in shares of Advanced Micro Devices by 4.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after purchasing an additional 6,168 shares in the last quarter. Principal Financial Group Inc. grew its position in Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after buying an additional 588,595 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Advanced Micro Devices by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock worth $50,214,000 after acquiring an additional 116,020 shares during the last quarter. Laffer Tengler Investments Inc. increased its stake in Advanced Micro Devices by 3,139.2% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 10,236 shares of the semiconductor manufacturer’s stock worth $1,680,000 after acquiring an additional 9,920 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its holdings in shares of Advanced Micro Devices by 338.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 47,695 shares of the semiconductor manufacturer’s stock valued at $7,826,000 after acquiring an additional 36,825 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 2.2 %

Advanced Micro Devices stock traded down $3.17 during midday trading on Tuesday, reaching $144.18. The stock had a trading volume of 13,361,826 shares, compared to its average volume of 55,768,141. Advanced Micro Devices, Inc. has a 52-week low of $116.00 and a 52-week high of $227.30. The company has a fifty day moving average of $154.41 and a 200 day moving average of $155.52. The firm has a market cap of $233.98 billion, a price-to-earnings ratio of 130.64, a price-to-earnings-growth ratio of 2.05 and a beta of 1.71. 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 issued its quarterly 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 firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $0.53 EPS. Advanced Micro Devices’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on AMD shares. Truist Financial cut their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Morgan Stanley reduced their target price on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value 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 approximately $513,150,048.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred 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 $41,558,469.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% 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.