Covenant Asset Management LLC Sells 14,369 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Covenant Asset Management LLC lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,108 shares of the semiconductor manufacturer’s stock after selling 14,369 shares during the period. Advanced Micro Devices makes up 0.8% of Covenant Asset Management LLC’s portfolio, making the stock its 20th biggest position. Covenant Asset Management LLC’s holdings in Advanced Micro Devices were worth $5,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMD. Howard Wealth Management LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at $970,000. Empire Life Investments Inc. acquired a new stake in Advanced Micro Devices in the 4th quarter worth about $717,000. WealthPLAN Partners LLC boosted its holdings in Advanced Micro Devices by 3.5% in the 4th quarter. WealthPLAN Partners LLC now owns 6,892 shares of the semiconductor manufacturer’s stock valued at $832,000 after purchasing an additional 236 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock worth $31,958,000 after purchasing an additional 29,825 shares during the period. Finally, GFG Capital LLC raised its position in shares of Advanced Micro Devices by 7.9% in the fourth quarter. GFG Capital LLC now owns 6,087 shares of the semiconductor manufacturer’s stock valued at $735,000 after buying an additional 444 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 1.2 %

NASDAQ:AMD opened at $113.10 on Friday. The company has a 50-day moving average price of $120.94 and a 200-day moving average price of $138.93. The stock has a market cap of $183.28 billion, a price-to-earnings ratio of 114.24, a P/E/G ratio of 1.04 and a beta of 1.65. The company has a current ratio of 2.62, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $106.50 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Equities analysts predict that Advanced Micro Devices, Inc. will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMD. KeyCorp cut their price objective on shares of Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Stifel Nicolaus dropped their price target on shares of Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Citigroup cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Benchmark decreased their price target on Advanced Micro Devices from $200.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, Bank of America decreased their target price on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.70.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Philip Guido acquired 4,645 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the acquisition, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.73% of the stock is currently owned by corporate insiders.

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.