Retirement Systems of Alabama Reduces Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Retirement Systems of Alabama cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 351,352 shares of the semiconductor manufacturer’s stock after selling 1,754 shares during the quarter. Retirement Systems of Alabama’s holdings in Advanced Micro Devices were worth $42,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMD. Charles Schwab Investment Management Inc. lifted its holdings in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares during the last quarter. Swiss National Bank raised its position in Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares during the period. Shum Financial Group Inc. acquired a new position in shares of Advanced Micro Devices in the 3rd quarter valued at $858,000. State Street Corp grew its holdings in shares of Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after buying an additional 441,924 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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. KeyCorp cut their target price on Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Susquehanna decreased their price target on Advanced Micro Devices from $200.00 to $165.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley dropped their price objective on Advanced Micro Devices from $158.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.35.

Insider Activity

In other news, CEO Lisa T. Su sold 76,496 shares of the company’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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Advanced Micro Devices Stock Up 4.6 %

AMD stock opened at $119.50 on Wednesday. The company’s 50 day moving average is $125.38 and its two-hundred day moving average is $140.81. Advanced Micro Devices, Inc. has a twelve month low of $112.80 and a twelve month high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market cap of $193.93 billion, a P/E ratio of 107.66, a PEG ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.19). Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

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.