Melqart Asset Management UK Ltd Sells 43,874 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Melqart Asset Management UK Ltd decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMDFree Report) by 40.9% during the third quarter, HoldingsChannel reports. The fund owned 63,390 shares of the semiconductor manufacturer’s stock after selling 43,874 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Advanced Micro Devices were worth $10,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Capital Management Investments LLC boosted its holdings in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC boosted its stake in shares of Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC bought a new position in shares of Advanced Micro Devices in the second quarter worth about $27,000. Finally, Ridgewood Investments LLC purchased a new position in Advanced Micro Devices in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 0.1 %

NASDAQ AMD opened at $141.98 on Wednesday. Advanced Micro Devices, Inc. has a 12-month low of $116.37 and a 12-month high of $227.30. The company has a fifty day simple moving average of $151.54 and a two-hundred day simple moving average of $153.73. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market cap of $230.41 billion, a P/E ratio of 127.91, a P/E/G ratio of 1.96 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % 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 this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMD has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Morgan Stanley lowered their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. UBS Group lowered their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Bank of America restated a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Get Our Latest Research Report on AMD

About Advanced Micro Devices

(Free Report)

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.

Further Reading

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

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