Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Grassi Investment Management

Grassi Investment Management cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 127,360 shares of the semiconductor manufacturer’s stock after selling 1,550 shares during the period. Advanced Micro Devices makes up approximately 1.6% of Grassi Investment Management’s holdings, making the stock its 13th largest holding. Grassi Investment Management’s holdings in Advanced Micro Devices were worth $14,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. raised its position in shares of Advanced Micro Devices by 19.1% in the 1st quarter. Itau Unibanco Holding S.A. now owns 103,735 shares of the semiconductor manufacturer’s stock valued at $10,167,000 after purchasing an additional 16,622 shares in the last quarter. Shikiar Asset Management Inc. acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at approximately $10,199,000. Vicus Capital acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at approximately $243,000. Liberty One Investment Management LLC raised its position in shares of Advanced Micro Devices by 5.0% in the 1st quarter. Liberty One Investment Management LLC now owns 2,247 shares of the semiconductor manufacturer’s stock valued at $220,000 after purchasing an additional 108 shares in the last quarter. Finally, SouthState Corp raised its position 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 valued at $57,000 after purchasing an additional 497 shares in the last quarter. 68.43% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Down 1.1 %

Shares of Advanced Micro Devices stock opened at $100.35 on Monday. The stock has a 50-day moving average price of $109.97 and a 200 day moving average price of $104.65. The company has a market cap of $162.13 billion, a P/E ratio of -5,074.50, a P/E/G ratio of 5.98 and a beta of 1.80. The company has a current ratio of 2.18, a quick ratio of 1.58 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 1 year low of $54.57 and a 1 year high of $132.83.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor manufacturer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Advanced Micro Devices had a positive return on equity of 5.69% and a negative net margin of 0.11%. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was down 18.2% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of recent analyst reports. Barclays upped their target price on Advanced Micro Devices from $90.00 to $145.00 in a research report on Wednesday, June 14th. JPMorgan Chase & Co. boosted their price target on Advanced Micro Devices from $92.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Raymond James boosted their price target on Advanced Micro Devices from $110.00 to $145.00 in a report on Wednesday, June 14th. KeyCorp boosted their price target on Advanced Micro Devices from $150.00 to $160.00 in a report on Tuesday, July 11th. Finally, Piper Sandler boosted their price target on Advanced Micro Devices from $110.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.19.

Insiders Place Their Bets

In other Advanced Micro Devices news, CEO Lisa T. Su sold 75,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $105.40, for a total value of $7,905,000.00. Following the transaction, the chief executive officer now directly owns 3,358,721 shares of the company’s stock, valued at approximately $354,009,193.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Paul Darren Grasby sold 14,942 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $106.21, for a total transaction of $1,586,989.82. Following the transaction, the executive vice president now owns 103,663 shares of the company’s stock, valued at approximately $11,010,047.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 75,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $105.40, for a total value of $7,905,000.00. Following the transaction, the chief executive officer now directly owns 3,358,721 shares in the company, valued at approximately $354,009,193.40. The disclosure for this sale can be found here. Insiders have sold a total of 196,643 shares of company stock valued at $21,395,584 in the last three months. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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.