Hoey Investments Inc. Cuts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hoey Investments Inc. lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 94.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,305 shares of the semiconductor manufacturer’s stock after selling 24,152 shares during the period. Hoey Investments Inc.’s holdings in Advanced Micro Devices were worth $158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at $2,867,193,000. Van ECK Associates Corp raised its stake in shares of Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. State Street Corp increased its stake in 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 buying an additional 1,580,035 shares during the period. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $165,952,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Down 3.2 %

AMD stock opened at $103.22 on Monday. The firm’s 50-day moving average is $109.39 and its two-hundred day moving average is $130.68. The company has a market capitalization of $167.27 billion, a price-to-earnings ratio of 104.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a 52 week low of $94.73 and a 52 week high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent analyst reports. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Mizuho decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Citigroup restated a “buy” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their target price on Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, Benchmark reissued a “buy” rating and set a $170.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.72.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido acquired 4,645 shares of the stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $107.56 per share, with a total value of $499,616.20. Following the purchase, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.73% 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.