Concorde Asset Management LLC Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Concorde Asset Management LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,953 shares of the semiconductor manufacturer’s stock after selling 148 shares during the quarter. Concorde Asset Management LLC’s holdings in Advanced Micro Devices were worth $485,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after buying an additional 7,815,305 shares during the period. Van ECK Associates Corp boosted its stake in Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after buying an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. boosted its stake in Advanced Micro Devices by 42.2% during the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after buying an additional 2,497,056 shares during the period. Renaissance Technologies LLC purchased a new position in Advanced Micro Devices during the second quarter worth $296,178,000. Finally, Swedbank AB purchased a new position in Advanced Micro Devices during the first quarter worth $290,842,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Advanced Micro Devices Trading Down 0.3 %

Shares of AMD stock opened at $137.21 on Friday. 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 stock has a 50 day simple moving average of $153.95 and a 200-day simple moving average of $154.70. The company has a market cap of $222.67 billion, a price-to-earnings ratio of 123.61, a PEG ratio of 1.93 and a beta of 1.71. Advanced Micro Devices, Inc. has a 1-year low of $116.37 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on AMD. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Finally, Truist Financial decreased their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

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.