Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 664,523 shares of the semiconductor manufacturer’s stock after selling 223,504 shares during the period. Fred Alger Management LLC’s holdings in Advanced Micro Devices were worth $109,035,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMD. Fisher Asset Management LLC raised its stake in Advanced Micro Devices by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after purchasing an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after buying an additional 1,565,083 shares in the last quarter. Legal & General Group Plc raised its position in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Advanced Micro Devices by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after buying an additional 177,700 shares during the period. Finally, Van ECK Associates Corp boosted its position in Advanced Micro Devices by 11.3% during the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock worth $1,471,128,000 after acquiring an additional 975,220 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Advanced Micro Devices Trading Down 1.1 %

NASDAQ:AMD opened at $136.24 on Friday. The stock has a market cap of $221.09 billion, a price-to-earnings ratio of 122.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.71. Advanced Micro Devices, Inc. has a one year low of $116.37 and a one year high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The business’s 50-day simple moving average is $152.53 and its 200 day simple moving average is $154.16.

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

Wall Street Analyst Weigh In

AMD has been the subject of several analyst reports. UBS Group cut their price target on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Roth Mkm restated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. Bank of America reiterated a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Finally, Edward Jones began coverage on shares of Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $192.79.

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.