Advanced Micro Devices, Inc. (NASDAQ:AMD) is Avalon Global Asset Management LLC’s 10th Largest Position

Avalon Global Asset Management LLC cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 33.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,200 shares of the semiconductor manufacturer’s stock after selling 60,000 shares during the quarter. Advanced Micro Devices comprises about 3.0% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Avalon Global Asset Management LLC’s holdings in Advanced Micro Devices were worth $19,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 177,700 shares in the last quarter. Swiss National Bank grew its stake in shares of Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after acquiring an additional 12,500 shares in the last quarter. Shum Financial Group Inc. purchased a new stake in shares of Advanced Micro Devices during the third quarter worth about $858,000. Harvest Portfolios Group Inc. lifted its stake in shares of Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after acquiring an additional 6,168 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Advanced Micro Devices by 30.2% in the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after purchasing an additional 588,595 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

AMD has been the topic of several analyst reports. Morgan Stanley dropped their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. TD Cowen dropped their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $137.18 on Monday. Advanced Micro Devices, Inc. has a 12-month low of $116.37 and a 12-month high of $227.30. 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 firm has a market capitalization of $222.62 billion, a price-to-earnings ratio of 123.59, a price-to-earnings-growth ratio of 1.89 and a beta of 1.71. The business has a 50 day simple moving average of $152.16 and a 200 day simple moving average of $154.03.

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

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction 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 directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’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 sale, 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 disclosure for this sale can be found here. 0.73% of the stock is owned by 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.