Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 53.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 345,136 shares of the semiconductor manufacturer’s stock after selling 401,021 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Advanced Micro Devices were worth $56,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMD. Legal & General Group Plc lifted its holdings in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after purchasing an additional 188,580 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after buying an additional 177,700 shares during the period. Van ECK Associates Corp boosted its stake in shares of Advanced Micro Devices by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after buying an additional 975,220 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Advanced Micro Devices by 42.2% during the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in 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 worth $1,289,818,000 after purchasing an additional 7,815,305 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMD. Morgan Stanley reduced their price objective on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Edward Jones assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. Finally, Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Trading Up 0.6 %

Shares of AMD opened at $138.35 on Monday. Advanced Micro Devices, Inc. has a 52-week low of $116.37 and a 52-week high of $227.30. The company has a market cap of $224.52 billion, a price-to-earnings ratio of 124.64, a PEG ratio of 1.90 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock has a fifty day moving average price of $153.67 and a two-hundred day moving average price of $154.59.

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

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, 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. Company insiders own 0.73% of the company’s stock.

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.