Grimes & Company Inc. Reduces Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Grimes & Company Inc. decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,195 shares of the semiconductor manufacturer’s stock after selling 1,637 shares during the period. Grimes & Company Inc.’s holdings in Advanced Micro Devices were worth $15,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Creative Capital Management Investments LLC grew its position in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC grew its position in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Global Wealth Strategies & Associates purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $26,000. Retirement Wealth Solutions LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $32,000. Finally, FSA Wealth Management LLC purchased a new stake in Advanced Micro Devices during the third quarter valued at about $41,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 0.2 %

Shares of NASDAQ:AMD opened at $122.84 on Friday. The company has a market capitalization of $199.35 billion, a P/E ratio of 110.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices, Inc. has a 52-week low of $114.41 and a 52-week high of $227.30. The company has a 50-day simple moving average of $128.12 and a 200 day simple moving average of $143.73.

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

Analysts Set New Price Targets

A number of research firms have issued reports on AMD. Piper Sandler reissued an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price target for the company from $180.00 to $155.00 in a research report on Monday, December 9th. KeyCorp reduced their price objective on Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, Loop Capital began coverage on Advanced Micro Devices in a research note on Tuesday, January 14th. They set a “buy” rating and a $175.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $176.33.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on 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 transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 over the last quarter. Corporate insiders own 0.73% of the company’s stock.

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.