Sandy Cove Advisors LLC Decreases Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sandy Cove Advisors LLC reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,878 shares of the semiconductor manufacturer’s stock after selling 986 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Advanced Micro Devices were worth $589,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMD. Creative Capital Management Investments LLC grew its stake in 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 valued at $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its position in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the period. Global Wealth Strategies & Associates purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $26,000. Abich Financial Wealth Management LLC increased its stake 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 purchasing an additional 111 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Advanced Micro Devices in the 3rd quarter worth about $41,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Barclays reduced their price objective on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday. Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the company from $180.00 to $155.00 in a research report on Monday, December 9th. Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.61.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock worth $28,165,821 over the last 90 days. 0.65% of the stock is owned by insiders.

Advanced Micro Devices Stock Up 2.5 %

Advanced Micro Devices stock opened at $121.46 on Friday. The firm has a market capitalization of $197.11 billion, a P/E ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a twelve month low of $114.41 and a twelve month high of $227.30. The stock’s fifty day simple moving average is $129.94 and its 200-day simple moving average is $145.32.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company earned $0.53 EPS. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

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.