Petredis Investment Advisors LLC Trims Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Petredis Investment Advisors LLC cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 61,431 shares of the semiconductor manufacturer’s stock after selling 1,551 shares during the period. Advanced Micro Devices makes up approximately 0.8% of Petredis Investment Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Petredis Investment Advisors LLC’s holdings in Advanced Micro Devices were worth $7,420,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Creative Capital Management Investments LLC grew its holdings in shares of Advanced Micro Devices by 124.6% in the third 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 in the last quarter. ZRC Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $26,000. FSA Wealth Management LLC purchased a new stake in shares of Advanced Micro Devices during the 3rd quarter worth approximately $41,000. Finally, Coston McIsaac & Partners raised its position in Advanced Micro Devices by 319.4% in the 3rd quarter. Coston McIsaac & Partners now owns 260 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 198 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMD. TD Cowen dropped their price objective on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wolfe Research cut shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $175.00 to $129.00 in a report on Friday, January 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, Barclays cut their price objective on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $176.33.

Advanced Micro Devices Stock Down 0.2 %

Shares of Advanced Micro Devices stock opened at $122.84 on Friday. Advanced Micro Devices, Inc. has a one year low of $114.41 and a one year high of $227.30. 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’s 50-day moving average is $128.36 and its 200 day moving average is $144.12. The firm has a market cap of $199.35 billion, a price-to-earnings ratio of 110.67, a PEG ratio of 1.09 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction 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 sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is owned by insiders.

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.