Sumitomo Mitsui Trust Holdings Inc. Sells 443,323 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,784,034 shares of the semiconductor manufacturer’s stock after selling 443,323 shares during the period. Advanced Micro Devices makes up 0.6% of Sumitomo Mitsui Trust Holdings Inc.’s portfolio, making the stock its 23rd largest position. Sumitomo Mitsui Trust Holdings Inc. owned 0.30% of Advanced Micro Devices worth $863,470,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMD. Spartan Planning & Wealth Management bought a new stake in Advanced Micro Devices during the 3rd quarter valued at $27,000. Northwest Bank & Trust Co bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $28,000. Bare Financial Services Inc purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $29,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. Finally, Gables Capital Management Inc. purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $29,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded down $0.81 during trading hours on Wednesday, hitting $163.50. The company’s stock had a trading volume of 6,772,938 shares, compared to its average volume of 64,519,008. 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 12-month low of $93.11 and a 12-month high of $227.30. The business has a 50 day moving average price of $159.30 and a two-hundred day moving average price of $165.38. The company has a market cap of $264.27 billion, a PE ratio of 241.64, a PEG ratio of 1.87 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last released 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 company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Analysts expect that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMD. Evercore ISI reduced their price target on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler reissued an “overweight” rating and issued a $175.00 target price (down previously from $195.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. UBS Group decreased their price objective on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Citigroup dropped their target price on shares of Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.83.

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.