Pinnacle Associates Ltd. Sells 3,113 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pinnacle Associates Ltd. decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,447 shares of the semiconductor manufacturer’s stock after selling 3,113 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Advanced Micro Devices were worth $11,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after buying an additional 2,349,288 shares during the last quarter. Legal & General Group Plc increased its stake in Advanced Micro Devices by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after purchasing an additional 188,580 shares during the period. Van ECK Associates Corp increased its stake in Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. increased its stake in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the period. Finally, GQG Partners LLC increased its stake in Advanced Micro Devices by 5.0% in the 1st quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after purchasing an additional 382,582 shares during the period. Institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AMD. TD Cowen decreased their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday. KeyCorp decreased their price target on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Edward Jones began coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Trading Down 10.6 %

Advanced Micro Devices stock opened at $148.60 on Thursday. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $155.17 and its two-hundred day simple moving average is $156.03. Advanced Micro Devices, Inc. has a 12 month low of $94.07 and a 12 month high of $227.30. The company has a market capitalization of $240.18 billion, a price-to-earnings ratio of 218.53, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

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.