Alliancebernstein L.P. Trims Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Alliancebernstein L.P. lowered its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,329,896 shares of the semiconductor manufacturer’s stock after selling 267,207 shares during the quarter. Alliancebernstein L.P.’s holdings in Advanced Micro Devices were worth $281,428,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Howard Capital Management Group LLC lifted its holdings in shares of Advanced Micro Devices by 21.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock worth $300,000 after acquiring an additional 324 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after buying an additional 588,595 shares during the period. United Bank bought a new stake in shares of Advanced Micro Devices during the 3rd quarter worth approximately $516,000. Captrust Financial Advisors boosted its holdings in Advanced Micro Devices by 5.6% during the 3rd quarter. Captrust Financial Advisors now owns 75,681 shares of the semiconductor manufacturer’s stock valued at $12,418,000 after acquiring an additional 4,012 shares during the period. Finally, Tradition Wealth Management LLC boosted its holdings in Advanced Micro Devices by 12.2% during the 3rd quarter. Tradition Wealth Management LLC now owns 7,321 shares of the semiconductor manufacturer’s stock valued at $1,201,000 after acquiring an additional 798 shares during the period. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Philip Guido purchased 4,645 shares of the business’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Advanced Micro Devices Trading Down 0.5 %

NASDAQ:AMD opened at $102.74 on Tuesday. The company has a market capitalization of $166.49 billion, a P/E ratio of 103.78, a PEG ratio of 1.11 and a beta of 1.74. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $94.73 and a 12 month high of $187.28. The firm has a fifty day simple moving average of $109.01 and a 200-day simple moving average of $130.35.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMD. Morgan Stanley set a $137.00 target price on Advanced Micro Devices in a research report on Wednesday, February 5th. Truist Financial set a $130.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Benchmark reissued a “buy” rating and issued a $170.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, February 18th. Finally, Summit Insights raised Advanced Micro Devices to a “hold” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $152.72.

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.