Avala Global LP Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avala Global LP reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 32.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,958 shares of the semiconductor manufacturer’s stock after selling 122,500 shares during the quarter. Advanced Micro Devices accounts for about 2.8% of Avala Global LP’s holdings, making the stock its 17th largest holding. Avala Global LP’s holdings in Advanced Micro Devices were worth $41,834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in Advanced Micro Devices by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after acquiring an additional 644,039 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 valued at $3,195,000,000 after acquiring an additional 1,565,083 shares during the period. Legal & General Group Plc boosted its holdings in Advanced Micro Devices by 1.4% during the 2nd 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 during the period. Charles Schwab Investment Management Inc. boosted its holdings in Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Advanced Micro Devices by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after acquiring an additional 975,220 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Edward Jones assumed coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating for the company. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. UBS Group lowered their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’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 directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $137.18 on Monday. The business’s fifty day simple moving average is $152.16 and its two-hundred day simple moving average is $154.03. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $116.37 and a 12 month high of $227.30. The company has a market cap of $222.62 billion, a price-to-earnings ratio of 123.59, a P/E/G ratio of 1.89 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the business posted $0.53 EPS. The company’s revenue was up 17.6% compared to the same quarter last year. Research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Advanced Micro Devices Company 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.