Shikiar Asset Management Inc. Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Shikiar Asset Management Inc. cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,287 shares of the semiconductor manufacturer’s stock after selling 13,115 shares during the quarter. Advanced Micro Devices makes up approximately 2.1% of Shikiar Asset Management Inc.’s portfolio, making the stock its 18th largest holding. Shikiar Asset Management Inc.’s holdings in Advanced Micro Devices were worth $8,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Geode Capital Management LLC raised its holdings in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after acquiring an additional 441,924 shares during the period. Fisher Asset Management LLC lifted its position in shares of Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after acquiring an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 1,565,083 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings 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 worth $2,159,039,000 after acquiring an additional 188,580 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 2.5 %

NASDAQ AMD opened at $121.46 on Friday. The firm has a market cap of $197.11 billion, a PE ratio of 109.42, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. Advanced Micro Devices, Inc. has a 1-year low of $114.41 and a 1-year high of $227.30. The stock has a 50-day moving average of $130.47 and a 200-day moving average of $145.58. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of recent research reports. KeyCorp dropped their price objective on Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday. Mizuho cut their price objective on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. UBS Group decreased their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Barclays reduced their price target on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $178.61.

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.