Retirement Systems of Alabama Sells 3,435 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Retirement Systems of Alabama reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,106 shares of the semiconductor manufacturer’s stock after selling 3,435 shares during the period. Retirement Systems of Alabama’s holdings in Advanced Micro Devices were worth $57,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc raised its holdings in shares of Advanced Micro Devices by 12.0% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after purchasing an additional 60 shares in the last quarter. Wealth Effects LLC raised its position in shares of Advanced Micro Devices by 0.7% in the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock worth $1,545,000 after acquiring an additional 65 shares in the last quarter. Jacobsen Capital Management lifted its stake in shares of Advanced Micro Devices by 2.1% during the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock worth $554,000 after purchasing an additional 70 shares during the last quarter. Pacific Sun Financial Corp raised its holdings in Advanced Micro Devices by 4.4% in the second quarter. Pacific Sun Financial Corp now owns 1,710 shares of the semiconductor manufacturer’s stock worth $277,000 after purchasing an additional 72 shares in the last quarter. Finally, Sigma Investment Counselors Inc. boosted its stake in Advanced Micro Devices by 5.3% in the third quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $243,000 after acquiring an additional 74 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Down 2.2 %

Shares of AMD traded down $2.85 during midday trading on Friday, reaching $127.75. 6,520,205 shares of the company were exchanged, compared to its average volume of 53,616,336. 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 1-year low of $121.82 and a 1-year high of $227.30. The company has a market cap of $207.31 billion, a price-to-earnings ratio of 117.66, a P/E/G ratio of 1.88 and a beta of 1.65. The stock has a 50-day moving average price of $147.60 and a 200-day moving average price of $152.43.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion during 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 business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’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 approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the company’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 transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AMD shares. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Morgan Stanley cut their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Edward Jones assumed coverage on Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating on the stock. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.