Wright Investors Service Inc. Has $705,000 Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Wright Investors Service Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 24.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,839 shares of the semiconductor manufacturer’s stock after selling 1,888 shares during the quarter. Wright Investors Service Inc.’s holdings in Advanced Micro Devices were worth $705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMD. International Assets Investment Management LLC lifted its position in Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Advanced Micro Devices in the 2nd quarter valued at $296,178,000. State Street Corp grew its holdings in 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 valued at $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 worth $3,195,000,000 after buying an additional 1,565,083 shares during the period. Institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’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 transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 in the last quarter. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of 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. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a report on Monday, October 28th. Barclays cut their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price objective on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $182.44.

Advanced Micro Devices Stock Up 1.1 %

Shares of NASDAQ:AMD opened at $117.32 on Tuesday. Advanced Micro Devices, Inc. has a 52-week low of $114.41 and a 52-week high of $227.30. The company has a market capitalization of $190.39 billion, a PE ratio of 105.69, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The company has a fifty day moving average of $132.11 and a 200-day moving average of $146.27.

Advanced Micro Devices (NASDAQ:AMD) last issued its 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 business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

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.