Pinnacle Financial Partners Inc Lowers Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pinnacle Financial Partners Inc trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,032 shares of the semiconductor manufacturer’s stock after selling 519 shares during the period. Pinnacle Financial Partners Inc’s holdings in Advanced Micro Devices were worth $497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMD. Harvest Portfolios Group Inc. increased its position in Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after purchasing an additional 6,168 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Advanced Micro Devices by 30.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after buying an additional 588,595 shares in the last quarter. Hartline Investment Corp increased its holdings in shares of Advanced Micro Devices by 6.2% in the 3rd quarter. Hartline Investment Corp now owns 220,197 shares of the semiconductor manufacturer’s stock worth $36,130,000 after buying an additional 12,837 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Advanced Micro Devices by 59.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after buying an additional 116,020 shares in the last quarter. Finally, Laffer Tengler Investments Inc. lifted its holdings in shares of Advanced Micro Devices by 3,139.2% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 10,236 shares of the semiconductor manufacturer’s stock valued at $1,680,000 after acquiring an additional 9,920 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America reaffirmed a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Morgan Stanley cut their target price on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. TD Cowen decreased their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Citigroup dropped their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Price Performance

Shares of AMD opened at $138.84 on Friday. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The company has a 50 day moving average of $154.52 and a two-hundred day moving average of $155.31. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The company has a market cap of $225.31 billion, a price-to-earnings ratio of 126.08, a price-to-earnings-growth ratio of 1.99 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

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.