Jennison Associates LLC Sells 2,732,454 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Jennison Associates LLC lowered its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 23.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,099,952 shares of the semiconductor manufacturer’s stock after selling 2,732,454 shares during the quarter. Jennison Associates LLC’s holdings in Advanced Micro Devices were worth $1,099,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMD. 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 purchasing an additional 86 shares during the period. Global Wealth Strategies & Associates bought a new stake in Advanced Micro Devices in the fourth quarter worth about $26,000. Retirement Wealth Solutions LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $32,000. FSA Wealth Management LLC bought a new position in shares of Advanced Micro Devices during the third quarter valued at approximately $41,000. Finally, Coston McIsaac & Partners raised its holdings in shares of Advanced Micro Devices by 319.4% in the third quarter. Coston McIsaac & Partners now owns 260 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 198 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

Shares of AMD opened at $115.95 on Monday. 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 company’s fifty day moving average price is $125.92 and its 200-day moving average price is $141.11. Advanced Micro Devices, Inc. has a 1-year low of $112.80 and a 1-year high of $227.30. The firm has a market capitalization of $188.16 billion, a PE ratio of 104.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s 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 approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AMD shares. Citigroup reduced their target price on Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Susquehanna decreased their price objective on shares of Advanced Micro Devices from $200.00 to $165.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. KeyCorp dropped their target price on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Finally, Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $180.00 to $155.00 in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $169.77.

Advanced Micro Devices 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.