Pitcairn Co. Sells 2,946 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pitcairn Co. decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,588 shares of the semiconductor manufacturer’s stock after selling 2,946 shares during the quarter. Pitcairn Co.’s holdings in Advanced Micro Devices were worth $1,409,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after acquiring an additional 7,815,305 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at $296,178,000. Finally, Swedbank AB bought a new stake in shares of Advanced Micro Devices in the 1st quarter valued at $290,842,000. Institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the 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 sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMD shares. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. Barclays decreased their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Evercore ISI boosted their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial decreased their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $138.35 on Friday. The company has a market cap of $224.52 billion, a PE ratio of 124.64, a price-to-earnings-growth ratio of 1.90 and a beta of 1.71. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $153.67 and its two-hundred day simple moving average is $154.58.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Research analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current 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.