Cornercap Investment Counsel Inc. Cuts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cornercap Investment Counsel Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 47.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,136 shares of the semiconductor manufacturer’s stock after selling 8,260 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Advanced Micro Devices were worth $1,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Capital Management Investments LLC lifted its position in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC lifted its position in Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC acquired a new stake in Advanced Micro Devices during the 2nd quarter worth about $27,000. Finally, Semmax Financial Advisors Inc. lifted its holdings in shares of Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Susquehanna reiterated a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Edward Jones began coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. Citigroup reduced their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $138.84 on Friday. The company’s 50-day moving average is $154.52 and its two-hundred day moving average is $155.31. Advanced Micro Devices, Inc. has a 1-year low of $116.37 and a 1-year high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The firm has a market capitalization of $225.31 billion, a price-to-earnings ratio of 125.08, a PEG ratio of 1.93 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting 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 during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Analysts forecast that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

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.