Hobbs Group Advisors LLC Trims Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hobbs Group Advisors LLC lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,237 shares of the semiconductor manufacturer’s stock after selling 369 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Advanced Micro Devices were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Fortem Financial Group LLC raised its position in shares of Advanced Micro Devices by 11.3% during the 3rd quarter. Fortem Financial Group LLC now owns 2,942 shares of the semiconductor manufacturer’s stock valued at $483,000 after buying an additional 299 shares during the period. Empire Financial Management Company LLC purchased a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at approximately $346,000. TT International Asset Management LTD acquired a new stake in Advanced Micro Devices in the 3rd quarter valued at approximately $1,312,000. Financial Avengers Inc. increased its holdings in Advanced Micro Devices by 24.5% in the 3rd quarter. Financial Avengers Inc. now owns 5,669 shares of the semiconductor manufacturer’s stock valued at $930,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Advanced Micro Devices by 16.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 35,715 shares of the semiconductor manufacturer’s stock valued at $5,739,000 after purchasing an additional 5,032 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock valued at $28,165,821 over the last ninety days. Insiders own 0.65% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of AMD opened at $127.74 on Wednesday. Advanced Micro Devices, Inc. has a 1-year low of $121.82 and a 1-year high of $227.30. The stock has a market cap of $207.30 billion, a PE ratio of 115.08, a price-to-earnings-growth ratio of 1.91 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The firm has a fifty day moving average price of $149.48 and a 200 day moving average price of $153.01.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the company earned $0.53 earnings per share. Advanced Micro Devices’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho dropped their target price on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. TD Cowen dropped their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. UBS Group dropped their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Edward Jones assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $192.36.

Advanced Micro Devices Company 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.