Concentric Capital Strategies LP Sells 63,569 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Concentric Capital Strategies LP trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 39.2% in the third quarter, HoldingsChannel reports. The firm owned 98,419 shares of the semiconductor manufacturer’s stock after selling 63,569 shares during the quarter. Advanced Micro Devices accounts for about 0.7% of Concentric Capital Strategies LP’s holdings, making the stock its 19th largest holding. Concentric Capital Strategies LP’s holdings in Advanced Micro Devices were worth $16,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. ArrowMark Colorado Holdings LLC grew its position in shares of Advanced Micro Devices by 14.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 63,000 shares of the semiconductor manufacturer’s stock valued at $10,337,000 after purchasing an additional 8,000 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Advanced Micro Devices by 7,133.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 48,029 shares of the semiconductor manufacturer’s stock valued at $7,880,000 after buying an additional 47,365 shares in the last quarter. Atom Investors LP increased its position in Advanced Micro Devices by 32.0% during the 3rd quarter. Atom Investors LP now owns 6,245 shares of the semiconductor manufacturer’s stock worth $1,025,000 after buying an additional 1,515 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Advanced Micro Devices during the third quarter worth $4,894,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Advanced Micro Devices in the third quarter valued at about $286,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on AMD. Citigroup dropped their price objective on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. TD Cowen dropped their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. UBS Group lowered their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Barclays reduced their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Up 0.7 %

Shares of NASDAQ:AMD opened at $137.18 on Monday. The firm has a market cap of $222.62 billion, a P/E ratio of 123.59, a P/E/G ratio of 1.89 and a beta of 1.71. Advanced Micro Devices, Inc. has a 12-month low of $116.37 and a 12-month high of $227.30. The business has a fifty day simple moving average of $152.16 and a 200 day simple moving average of $154.03. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. Analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current 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.