Westfield Capital Management Co. LP Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Westfield Capital Management Co. LP lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 15.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 437,891 shares of the semiconductor manufacturer’s stock after selling 78,975 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Advanced Micro Devices were worth $64,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management purchased a new stake in Advanced Micro Devices in the 3rd quarter worth $27,000. Bare Financial Services Inc acquired a new stake in Advanced Micro Devices during the 4th quarter worth $29,000. MeadowBrook Investment Advisors LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth $29,000. Gables Capital Management Inc. acquired a new stake in Advanced Micro Devices during the 4th quarter worth $29,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Advanced Micro Devices during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Jefferies Financial Group initiated coverage on shares of Advanced Micro Devices in a research report on Monday, May 13th. They set a “buy” rating and a $190.00 price target on the stock. KeyCorp lowered their price target on shares of Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Northland Securities raised shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a research report on Wednesday, January 31st. Finally, Truist Financial lowered their price target on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.26.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded up $5.93 during trading hours on Friday, hitting $166.36. The stock had a trading volume of 54,868,646 shares, compared to its average volume of 48,877,128. The firm has a market capitalization of $268.89 billion, a PE ratio of 244.65, a PEG ratio of 1.84 and a beta of 1.66. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30. The stock’s 50 day moving average is $164.25 and its 200 day moving average is $158.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.92.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at $794,069.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Advanced Micro Devices news, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the transaction, the director now owns 2,197 shares in the company, valued at $457,151.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders sold a total of 165,650 shares of company stock valued at $31,761,199 over the last three months. 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.