American International Group Inc. Sells 37,793 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

American International Group Inc. reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 559,638 shares of the semiconductor manufacturer’s stock after selling 37,793 shares during the period. American International Group Inc.’s holdings in Advanced Micro Devices were worth $36,248,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Buckingham Strategic Wealth LLC boosted its holdings in shares of Advanced Micro Devices by 69.8% in the third quarter. Buckingham Strategic Wealth LLC now owns 5,644 shares of the semiconductor manufacturer’s stock valued at $358,000 after purchasing an additional 2,320 shares during the period. SouthState Corp lifted its holdings in shares of Advanced Micro Devices by 128.1% in the 4th quarter. SouthState Corp now owns 885 shares of the semiconductor manufacturer’s stock worth $57,000 after buying an additional 497 shares during the period. Redwood Investment Management LLC grew its position in shares of Advanced Micro Devices by 155.1% during the 3rd quarter. Redwood Investment Management LLC now owns 7,789 shares of the semiconductor manufacturer’s stock worth $494,000 after buying an additional 4,736 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Advanced Micro Devices by 9.6% during the fourth quarter. Van ECK Associates Corp now owns 6,079,007 shares of the semiconductor manufacturer’s stock valued at $393,737,000 after buying an additional 530,655 shares during the period. Finally, Glass Jacobson Investment Advisors llc bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $182,000. Hedge funds and other institutional investors own 67.17% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $5.00 during midday trading on Friday, reaching $125.35. 59,090,800 shares of the company traded hands, compared to its average volume of 62,559,977. Advanced Micro Devices, Inc. has a 52 week low of $54.57 and a 52 week high of $127.15. The company has a market cap of $201.86 billion, a price-to-earnings ratio of 523.26, a PEG ratio of 8.19 and a beta of 1.94. The stock has a 50-day moving average price of $95.31 and a 200 day moving average price of $81.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.38 and a quick ratio of 1.74.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last announced its earnings results on Tuesday, May 2nd. The semiconductor manufacturer reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Advanced Micro Devices had a return on equity of 7.19% and a net margin of 1.71%. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Devinder Kumar sold 16,265 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $94.85, for a total transaction of $1,542,735.25. Following the sale, the executive vice president now directly owns 555,750 shares of the company’s stock, valued at $52,712,887.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Devinder Kumar sold 16,265 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $94.85, for a total value of $1,542,735.25. Following the transaction, the executive vice president now owns 555,750 shares in the company, valued at approximately $52,712,887.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $81.69, for a total transaction of $2,450,700.00. Following the sale, the executive vice president now owns 1,516,945 shares of the company’s stock, valued at $123,919,237.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,765 shares of company stock worth $10,474,960. 0.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on AMD. KeyCorp raised their target price on shares of Advanced Micro Devices from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, April 11th. Mizuho dropped their target price on Advanced Micro Devices from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, February 1st. Morgan Stanley boosted their price target on Advanced Micro Devices from $87.00 to $102.00 in a research report on Monday, May 1st. Wells Fargo & Company raised their price objective on Advanced Micro Devices from $85.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, March 30th. Finally, BMO Capital Markets started coverage on shares of Advanced Micro Devices in a report on Wednesday, February 1st. They issued a “buy” rating and a $110.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.17.

Advanced Micro Devices Profile

(Get Rating)

Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.