Central Pacific Bank Trust Division Sells 2,866 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Central Pacific Bank Trust Division lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,141 shares of the semiconductor manufacturer’s stock after selling 2,866 shares during the period. Central Pacific Bank Trust Division’s holdings in Advanced Micro Devices were worth $1,587,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Capital Management Investments LLC boosted its stake in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC boosted its position in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Fairway Wealth LLC bought a new position in Advanced Micro Devices in the second quarter valued at approximately $27,000. Global Wealth Strategies & Associates acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $26,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 101.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMD. Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. Mizuho reduced their price target on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Morgan Stanley dropped their price target on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded up $3.95 during trading on Friday, hitting $124.58. 24,026,574 shares of the company were exchanged, compared to its average volume of 28,706,316. The business’s 50 day moving average is $136.07 and its 200-day moving average is $148.19. The company has a market capitalization of $202.17 billion, a P/E ratio of 112.23, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. Advanced Micro Devices, Inc. has a 1-year low of $117.90 and a 1-year high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly 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 firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, November 6th. The shares were 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 owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,036 shares of company stock worth $28,165,821. Insiders own 0.65% of the company’s stock.

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.