Sequoia Financial Advisors LLC Decreases Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Posted by on Mar 26th, 2023

Sequoia Financial Advisors LLC cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,647 shares of the semiconductor manufacturer’s stock after selling 18,846 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Advanced Micro Devices were worth $2,244,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMD. Renaissance Technologies LLC purchased a new position in shares of Advanced Micro Devices in the first quarter valued at $777,111,000. Public Investment Fund purchased a new position in shares of Advanced Micro Devices in the second quarter valued at $359,567,000. Northern Trust Corp grew its position in shares of Advanced Micro Devices by 35.5% in the first quarter. Northern Trust Corp now owns 17,086,683 shares of the semiconductor manufacturer’s stock valued at $1,868,258,000 after purchasing an additional 4,475,368 shares in the last quarter. Barclays PLC grew its position in Advanced Micro Devices by 68.5% during the third quarter. Barclays PLC now owns 8,593,202 shares of the semiconductor manufacturer’s stock worth $544,468,000 after buying an additional 3,494,276 shares in the last quarter. Finally, Amundi grew its position in Advanced Micro Devices by 75.7% during the second quarter. Amundi now owns 6,696,335 shares of the semiconductor manufacturer’s stock worth $526,006,000 after buying an additional 2,884,932 shares in the last quarter. 67.17% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 2.3 %

Shares of NASDAQ:AMD opened at $97.95 on Friday. Advanced Micro Devices, Inc. has a 1 year low of $54.57 and a 1 year high of $125.67. The company has a market cap of $157.84 billion, a PE ratio of 111.31, a P/E/G ratio of 5.92 and a beta of 1.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.36 and a quick ratio of 1.77. The stock’s 50-day moving average is $82.22 and its 200 day moving average is $72.79.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Advanced Micro Devices had a return on equity of 8.52% and a net margin of 5.59%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the business earned $0.83 EPS. Advanced Micro Devices’s revenue was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent analyst reports. Mizuho reduced their target price on Advanced Micro Devices from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, February 1st. StockNews.com initiated coverage on Advanced Micro Devices in a research report on Thursday, March 16th. They set a “sell” rating for the company. Benchmark boosted their target price on Advanced Micro Devices from $93.00 to $103.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Craig Hallum cut Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $76.00 target price for the company. in a research report on Wednesday, February 1st. Finally, Morgan Stanley began coverage on Advanced Micro Devices in a research report on Wednesday, February 1st. They set a “buy” rating and a $87.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $94.10.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Devinder Kumar sold 16,265 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $94.85, for a total transaction of $1,542,735.25. Following the transaction, the executive vice president now owns 555,750 shares in the company, valued at approximately $52,712,887.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Advanced Micro Devices news, EVP Devinder Kumar sold 16,265 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $94.85, for a total transaction of $1,542,735.25. Following the transaction, the executive vice president now owns 555,750 shares in the company, valued at approximately $52,712,887.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $85.19, for a total value of $2,555,700.00. Following the transaction, the executive vice president now owns 1,516,945 shares in the company, valued at approximately $129,228,544.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,265 shares of company stock worth $6,806,775. Company insiders own 1.00% of the company’s stock.

Advanced Micro Devices Profile

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Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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