32,646 Advanced Micro Devices, Inc. $AMD Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 22.9% in the third quarter, Holdings Channel reports. The institutional investor owned 109,957 shares of the semiconductor manufacturer’s stock after selling 32,646 shares during the period. Advanced Micro Devices accounts for about 1.1% of Danica Pension Livsforsikringsaktieselskab’s portfolio, making the stock its 18th largest position. Danica Pension Livsforsikringsaktieselskab’s holdings in Advanced Micro Devices were worth $67,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Advanced Micro Devices by 3.1% in the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock valued at $87,311,650,000 after purchasing an additional 4,535,126 shares during the period. State Street Corp raised its stake in shares of Advanced Micro Devices by 2.9% during the 2nd quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock worth $46,606,266,000 after buying an additional 2,149,563 shares during the period. Bank of America Corp DE acquired a new position in shares of Advanced Micro Devices during the 2nd quarter worth approximately $7,022,226,000. Jennison Associates LLC lifted its position in shares of Advanced Micro Devices by 5.8% during the 2nd quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock valued at $5,793,388,000 after buying an additional 545,575 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Advanced Micro Devices by 33.9% during the 2nd quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock valued at $5,422,444,000 after buying an additional 2,365,419 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 28,811 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total value of $13,595,046.57. Following the completion of the sale, the executive vice president directly owned 1,261,461 shares in the company, valued at $595,245,602.07. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Grasby sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.91, for a total value of $7,723,650.00. Following the completion of the sale, the executive vice president owned 117,687 shares of the company’s stock, valued at $60,598,213.17. This trade represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 232,588 shares of company stock worth $116,292,222. 0.50% of the stock is currently owned by insiders.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $51.24 during mid-day trading on Friday, reaching $534.06. The company’s stock had a trading volume of 49,061,909 shares, compared to its average volume of 33,352,236. The stock has a 50-day moving average of $554.55 and a two-hundred day moving average of $422.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 2.72. The stock has a market capitalization of $875.90 billion, a P/E ratio of 116.10, a P/E/G ratio of 5.63 and a beta of 2.49. Advanced Micro Devices, Inc. has a 1-year low of $188.22 and a 1-year high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The firm had revenue of $13.38 billion for the quarter, compared to analyst estimates of $13.10 billion. During the same period in the previous year, the business posted $1.20 earnings per share. Advanced Micro Devices’s quarterly revenue was up 44.7% on a year-over-year basis. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Key Advanced Micro Devices News

Here’s some of the latest news about AMD:

• Positive Sentiment: Google’s selection of AMD EPYC processors for infrastructure supporting its next-generation TPU chips strengthens AMD’s role in hyperscaler AI systems and could support data-center growth. How to Play AMD Stock as Google Picks EPYC for Its Next-Gen TPUs
• Positive Sentiment: Analyst support and Lisa Su’s CEO of the Year recognition reinforce the bullish longer-term narrative around AMD’s recent gains and competitive position, though neither fully offset Friday’s sector weakness. AMD’s Lisa Su named CEO of the year
• Neutral Sentiment: Director Nora Denzel disclosed a sale of 9,000 AMD shares. The transaction is a modest insider sale and does not by itself establish a change in the company’s outlook. SEC filing

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMD shares. Oppenheimer raised shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $600.00 price target on the stock in a research note on Monday, November 9th. HC Wainwright assumed coverage on shares of Advanced Micro Devices in a report on Thursday. They set a “buy” rating on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 4th. Truist Financial lifted their target price on shares of Advanced Micro Devices from $594.00 to $605.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Finally, Citigroup cut shares of Advanced Micro Devices from a “buy” rating to an “underperform” rating in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $640.11.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc. (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors. The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.