Sovereign Financial Group Inc. Reduces Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sovereign Financial Group Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 15.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,014 shares of the semiconductor manufacturer’s stock after selling 542 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Advanced Micro Devices were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Creative Capital Management Investments LLC boosted its position in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the last quarter. 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 last quarter. Global Wealth Strategies & Associates purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its stake in Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Advanced Micro Devices during the 3rd quarter valued at about $41,000. 71.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMD shares. Mizuho dropped their price target on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. Loop Capital initiated coverage on Advanced Micro Devices in a research note on Tuesday. They issued a “buy” rating and a $175.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, TD Cowen dropped their target price on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock worth $28,165,821 over the last three months. 0.73% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Performance

AMD stock opened at $119.96 on Thursday. The stock’s 50 day simple moving average is $131.60 and its 200 day simple moving average is $145.95. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12-month low of $114.41 and a 12-month high of $227.30. The stock has a market capitalization of $194.67 billion, a PE ratio of 108.07, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66.

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

About Advanced Micro Devices

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.