Eminence Capital LP Sells 150,705 Shares of Advanced Micro Devices, Inc. $AMD

Eminence Capital LP decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,416,112 shares of the semiconductor manufacturer’s stock after selling 150,705 shares during the quarter. Advanced Micro Devices accounts for about 2.4% of Eminence Capital LP’s portfolio, making the stock its 13th largest holding. Eminence Capital LP owned approximately 0.09% of Advanced Micro Devices worth $200,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Pinney & Scofield Inc. raised its position in shares of Advanced Micro Devices by 81.0% in the second quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares in the last quarter. Dogwood Wealth Management LLC grew its position in Advanced Micro Devices by 2,311.1% during the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 208 shares in the last quarter. Avion Wealth increased its stake in Advanced Micro Devices by 49.3% during the 2nd quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 72 shares during the period. West Branch Capital LLC raised its holdings in Advanced Micro Devices by 3,057.1% in the 2nd quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 214 shares in the last quarter. Finally, Semmax Financial Advisors Inc. raised its holdings in Advanced Micro Devices by 115.1% in the 1st quarter. Semmax Financial Advisors Inc. now owns 370 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 198 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 4.8%

Shares of Advanced Micro Devices stock opened at $210.78 on Friday. The firm has a market capitalization of $343.16 billion, a PE ratio of 104.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. The company has a current ratio of 2.31, a quick ratio of 1.68 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $231.11 and its 200 day moving average is $179.11. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $267.08.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The business had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s revenue was up 35.6% compared to the same quarter last year. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,450 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the transaction, the executive vice president directly owned 300,348 shares in the company, valued at approximately $68,890,820.76. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $215.14, for a total value of $26,892,500.00. Following the sale, the chief executive officer owned 3,277,476 shares in the company, valued at approximately $705,116,186.64. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 183,476 shares of company stock valued at $40,249,093 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMD. TD Cowen increased their target price on Advanced Micro Devices from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Raymond James Financial initiated coverage on shares of Advanced Micro Devices in a research note on Thursday, November 20th. They set an “outperform” rating and a $377.00 price objective on the stock. Evercore ISI raised their target price on shares of Advanced Micro Devices from $270.00 to $283.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Roth Capital reaffirmed a “buy” rating and set a $300.00 price target on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Finally, DZ Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $278.54.

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.