State of Michigan Retirement System Sells 137,300 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

State of Michigan Retirement System reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 969,540 shares of the semiconductor manufacturer’s stock after selling 137,300 shares during the period. Advanced Micro Devices makes up approximately 0.6% of State of Michigan Retirement System’s investment portfolio, making the stock its 25th biggest position. State of Michigan Retirement System owned about 0.06% of Advanced Micro Devices worth $117,111,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AMD. Bedel Financial Consulting Inc. raised its position in Advanced Micro Devices by 20.5% during the fourth quarter. Bedel Financial Consulting Inc. now owns 2,798 shares of the semiconductor manufacturer’s stock valued at $313,000 after purchasing an additional 476 shares in the last quarter. Bravias Capital Group LLC acquired a new position in Advanced Micro Devices during the fourth quarter valued at approximately $510,000. Detalus Advisors LLC raised its position in Advanced Micro Devices by 10.0% during the fourth quarter. Detalus Advisors LLC now owns 1,778 shares of the semiconductor manufacturer’s stock valued at $215,000 after purchasing an additional 162 shares in the last quarter. Silver Coast Investments LLC raised its position in Advanced Micro Devices by 20.4% during the fourth quarter. Silver Coast Investments LLC now owns 1,732 shares of the semiconductor manufacturer’s stock valued at $209,000 after purchasing an additional 293 shares in the last quarter. Finally, Auxano Advisors LLC raised its position in Advanced Micro Devices by 29.3% during the fourth quarter. Auxano Advisors LLC now owns 1,991 shares of the semiconductor manufacturer’s stock valued at $240,000 after purchasing an additional 451 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $98.23 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $159.18 billion, a P/E ratio of 99.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.65. The firm’s fifty day simple moving average is $116.41 and its two-hundred day simple moving average is $136.49. Advanced Micro Devices, Inc. has a 12 month low of $97.09 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Philip Guido bought 4,645 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMD has been the subject of several research analyst reports. HSBC reiterated a “reduce” rating and set a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Loop Capital initiated coverage on shares of Advanced Micro Devices in a report on Tuesday, January 14th. They set a “buy” rating and a $175.00 price target for the company. Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of Advanced Micro Devices in a report on Tuesday, February 18th. Argus set a $160.00 price target on shares of Advanced Micro Devices in a report on Thursday, February 6th. Finally, Roth Capital set a $140.00 price target on shares of Advanced Micro Devices in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $155.83.

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.