Pitcairn Co. Lowers Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pitcairn Co. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,588 shares of the semiconductor manufacturer’s stock after selling 2,946 shares during the quarter. Pitcairn Co.’s holdings in Advanced Micro Devices were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Creative Capital Management Investments LLC raised its stake in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Morton Brown Family Wealth LLC raised its stake in shares of Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices during the second quarter worth approximately $27,000. Finally, Semmax Financial Advisors Inc. raised its stake in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 139 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $138.35 on Friday. 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 firm has a market capitalization of $224.52 billion, a P/E ratio of 124.64, a P/E/G ratio of 1.90 and a beta of 1.71. The business has a fifty day simple moving average of $153.67 and a two-hundred day simple moving average of $154.58. Advanced Micro Devices, Inc. has a 12 month low of $116.37 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMD. Edward Jones began coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating on the stock. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Truist Financial cut their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Finally, Barclays cut their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Insider Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated 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 directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Advanced Micro Devices 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.