SRN Advisors LLC Cuts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

SRN Advisors LLC reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,241 shares of the semiconductor manufacturer’s stock after selling 2,463 shares during the quarter. SRN Advisors LLC’s holdings in Advanced Micro Devices were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Financial Partners Inc grew its holdings in shares of Advanced Micro Devices by 5.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 3,568 shares of the semiconductor manufacturer’s stock valued at $526,000 after purchasing an additional 185 shares in the last quarter. Stonegate Investment Group LLC boosted its stake in Advanced Micro Devices by 133.5% during the fourth quarter. Stonegate Investment Group LLC now owns 6,747 shares of the semiconductor manufacturer’s stock worth $995,000 after buying an additional 3,857 shares during the period. Coastline Trust Co boosted its stake in Advanced Micro Devices by 8.6% during the fourth quarter. Coastline Trust Co now owns 7,822 shares of the semiconductor manufacturer’s stock worth $1,153,000 after buying an additional 620 shares during the period. Colonial River Wealth Management LLC purchased a new position in Advanced Micro Devices during the fourth quarter worth $387,000. Finally, Independence Bank of Kentucky boosted its stake in Advanced Micro Devices by 84.1% during the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock worth $541,000 after buying an additional 1,677 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 0.0 %

Shares of AMD traded down $0.04 during mid-day trading on Friday, hitting $132.50. 78,561,997 shares of the company traded hands, compared to its average volume of 60,147,232. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30. The company has a quick ratio of 1.92, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $214.45 billion, a PE ratio of 194.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.69. The business has a 50 day moving average of $160.41 and a 200 day moving average of $167.82.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the company earned $0.40 EPS. Advanced Micro Devices’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on AMD shares. Piper Sandler reaffirmed an “overweight” rating and set a $175.00 price objective (down from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Roth Mkm dropped their price objective on shares of Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. Citigroup lifted their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Susquehanna reaffirmed a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $193.45.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. 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 16,756 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

About Advanced Micro Devices

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.