Jackson Square Partners LLC Trims Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Jackson Square Partners LLC cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,029 shares of the semiconductor manufacturer’s stock after selling 1,576 shares during the quarter. Jackson Square Partners LLC’s holdings in Advanced Micro Devices were worth $3,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Shum Financial Group Inc. acquired a new position in Advanced Micro Devices during the third quarter worth $858,000. State Street Corp raised its holdings in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the period. Geode Capital Management LLC lifted its stake in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. Enzi Wealth purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $569,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Advanced Micro Devices in the 4th quarter valued at about $65,897,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. HSBC reissued a “reduce” rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Susquehanna decreased their price target on shares of Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating for the company in a research report on Wednesday, February 5th. Piper Sandler reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. TD Cowen decreased their target price on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Melius Research restated a “hold” rating and set a $129.00 price target (down previously from $160.00) on shares of Advanced Micro Devices in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.14.

Insiders Place Their Bets

In other news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction on Friday, February 7th. The stock was bought at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Stock Up 7.0 %

AMD stock opened at $113.85 on Tuesday. The company has a market cap of $184.49 billion, a price-to-earnings ratio of 115.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. The company has a fifty day moving average price of $110.21 and a 200 day moving average price of $131.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a 12 month low of $94.73 and a 12 month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last announced 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 net margin of 6.36% and a return on equity of 7.42%. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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.