Baillie Gifford & Co. Sells 1,401,605 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Baillie Gifford & Co. cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,001,808 shares of the semiconductor manufacturer’s stock after selling 1,401,605 shares during the quarter. Advanced Micro Devices comprises 0.9% of Baillie Gifford & Co.’s portfolio, making the stock its 26th largest position. Baillie Gifford & Co. owned approximately 0.43% of Advanced Micro Devices worth $1,148,857,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMD shares. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. TD Cowen cut their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, Robert W. Baird cut their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices 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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated 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 owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Down 0.4 %

Shares of NASDAQ AMD opened at $147.35 on Tuesday. The stock has a 50-day moving average price of $154.41 and a two-hundred day moving average price of $155.52. Advanced Micro Devices, Inc. has a 12 month low of $116.00 and a 12 month high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $239.12 billion, a price-to-earnings ratio of 132.75, a PEG ratio of 2.05 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 2.53 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.