Connors Investor Services Inc. Reduces Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Connors Investor Services Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 37.8% during the 1st quarter, Holdings Channel reports. The firm owned 62,267 shares of the semiconductor manufacturer’s stock after selling 37,826 shares during the quarter. Connors Investor Services Inc.’s holdings in Advanced Micro Devices were worth $11,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Advanced Micro Devices by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares during the last quarter. Alera Investment Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the 1st quarter valued at $271,000. Clearstead Trust LLC boosted its holdings in shares of Advanced Micro Devices by 5.2% in the 1st quarter. Clearstead Trust LLC now owns 5,629 shares of the semiconductor manufacturer’s stock valued at $1,016,000 after acquiring an additional 279 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Advanced Micro Devices by 7.1% in the 1st quarter. Nicolet Advisory Services LLC now owns 5,352 shares of the semiconductor manufacturer’s stock valued at $914,000 after acquiring an additional 354 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Advanced Micro Devices in the 1st quarter valued at $1,215,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $4.19 during mid-day trading on Friday, reaching $151.58. The company’s stock had a trading volume of 47,513,063 shares, compared to its average volume of 50,288,988. The stock has a 50-day moving average of $164.27 and a two-hundred day moving average of $168.28. The stock has a market capitalization of $245.00 billion, a P/E ratio of 222.92, a P/E/G ratio of 1.75 and a beta of 1.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group dropped their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $175.00 price objective (down from $195.00) on shares of Advanced Micro Devices in a report on Wednesday, May 1st. DZ Bank raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Tuesday, May 7th. KeyCorp lowered their price target on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.97.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $245,757,319.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. Company 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 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.