Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Allstate Corp

Allstate Corp reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,396 shares of the semiconductor manufacturer’s stock after selling 326 shares during the period. Allstate Corp’s holdings in Advanced Micro Devices were worth $795,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $3,426,529,000. International Assets Investment Management LLC boosted its stake in shares of Advanced Micro Devices by 15,896.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after buying an additional 3,714,069 shares during the period. Private Advisor Group LLC boosted its stake in shares of Advanced Micro Devices by 104.6% during the fourth quarter. Private Advisor Group LLC now owns 99,165 shares of the semiconductor manufacturer’s stock worth $14,574,000 after buying an additional 2,278,076 shares during the period. Sylebra Capital LLC acquired a new stake in shares of Advanced Micro Devices during the third quarter worth about $227,566,000. Finally, Atreides Management LP boosted its stake in shares of Advanced Micro Devices by 114.3% during the third quarter. Atreides Management LP now owns 3,422,730 shares of the semiconductor manufacturer’s stock worth $351,925,000 after buying an additional 1,825,557 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at $794,069.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the transaction, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The disclosure for this sale can be found here. Insiders have sold 165,650 shares of company stock worth $31,761,199 in the last quarter. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMD. Wedbush restated an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. Raymond James downgraded shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $190.00 to $195.00 in a research report on Tuesday, January 30th. KeyCorp reduced their price target on shares of Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company raised their price objective on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group assumed coverage on shares of Advanced Micro Devices in a research note on Monday, May 13th. They set a “buy” rating and a $190.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.26.

Advanced Micro Devices Stock Down 2.1 %

Shares of Advanced Micro Devices stock traded down $3.50 during midday trading on Thursday, reaching $162.02. 63,099,935 shares of the company’s stock traded hands, compared to its average volume of 67,995,219. The company has a market cap of $261.87 billion, a price-to-earnings ratio of 236.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.66. The company’s 50 day simple moving average is $165.28 and its 200 day simple moving average is $157.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Equities analysts expect that Advanced Micro Devices, Inc. will post 2.62 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.