Kentucky Retirement Systems Insurance Trust Fund Has $6.22 Million Holdings in Advanced Micro Devices, Inc. $AMD

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,795 shares of the semiconductor manufacturer’s stock after selling 3,036 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Advanced Micro Devices were worth $6,215,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wise Wealth Partners purchased a new position in Advanced Micro Devices in the second quarter worth $343,000. Waterfront Wealth Inc. bought a new stake in shares of Advanced Micro Devices during the 2nd quarter worth $1,145,000. Parisi Gray Wealth Management purchased a new position in shares of Advanced Micro Devices in the 2nd quarter worth about $343,000. Global Retirement Partners LLC purchased a new stake in Advanced Micro Devices during the second quarter worth about $4,519,000. Finally, Cornercap Investment Counsel Inc. boosted its stake in Advanced Micro Devices by 43.3% in the second quarter. Cornercap Investment Counsel Inc. now owns 12,245 shares of the semiconductor manufacturer’s stock valued at $1,738,000 after acquiring an additional 3,702 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMD. CICC Research upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $265.00 target price on the stock in a research note on Friday, November 7th. Roth Capital reaffirmed a “buy” rating and set a $300.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Truist Financial reiterated a “buy” rating and set a $279.00 target price (up previously from $273.00) on shares of Advanced Micro Devices in a research report on Wednesday, November 5th. Morgan Stanley reissued an “equal weight” rating and issued a $260.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Finally, HSBC upped their price target on shares of Advanced Micro Devices from $185.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $278.54.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,108 shares of Advanced Micro Devices stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the completion of the sale, the executive vice president owned 1,714,505 shares of the company’s stock, valued at $411,686,940.60. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.14, for a total value of $26,892,500.00. Following the transaction, the chief executive officer owned 3,277,476 shares in the company, valued at $705,116,186.64. This trade represents a 3.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 183,476 shares of company stock worth $40,249,093. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Trading Down 4.8%

Shares of AMD opened at $210.78 on Friday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $267.08. The company has a market capitalization of $343.16 billion, a P/E ratio of 104.35, a P/E/G ratio of 1.56 and a beta of 1.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68. The firm’s 50 day simple moving average is $231.11 and its 200 day simple moving average is $179.57.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The firm had revenue of $9.25 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices Company 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.