RNC Capital Management LLC Trims Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

RNC Capital Management LLC lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,457 shares of the semiconductor manufacturer’s stock after selling 161 shares during the quarter. RNC Capital Management LLC’s holdings in Advanced Micro Devices were worth $677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp raised its position in Advanced Micro Devices by 234.5% in the third quarter. SouthState Corp now owns 388 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 272 shares during the period. TD Capital Management LLC acquired a new stake in shares of Advanced Micro Devices during the 3rd quarter worth about $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Advanced Micro Devices in the 3rd quarter valued at about $27,000. Mine & Arao Wealth Creation & Management LLC. lifted its position in Advanced Micro Devices by 1,915.8% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 383 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 364 shares during the last quarter. Finally, IAG Wealth Partners LLC boosted its stake in Advanced Micro Devices by 189.9% during the third quarter. IAG Wealth Partners LLC now owns 458 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 300 shares during the period. 67.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of research analyst reports. Northland Securities boosted their price target on shares of Advanced Micro Devices from $60.00 to $68.00 and gave the company a “market perform” rating in a research note on Wednesday, February 1st. Susquehanna lifted their target price on Advanced Micro Devices from $80.00 to $88.00 and gave the company a “positive” rating in a research report on Monday, January 30th. Barclays boosted their price target on shares of Advanced Micro Devices from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 1st. Morgan Stanley assumed coverage on shares of Advanced Micro Devices in a research note on Wednesday, February 1st. They issued a “buy” rating and a $87.00 price objective for the company. Finally, Truist Financial upped their target price on shares of Advanced Micro Devices from $70.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, January 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.60.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $97.84 on Friday. The stock has a fifty day moving average price of $79.37 and a 200 day moving average price of $72.22. Advanced Micro Devices, Inc. has a 1-year low of $54.57 and a 1-year high of $125.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.36 and a quick ratio of 1.77. The company has a market cap of $157.66 billion, a PE ratio of 111.18, a P/E/G ratio of 5.44 and a beta of 1.95.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.52 billion. Advanced Micro Devices had a net margin of 5.59% and a return on equity of 8.52%. Advanced Micro Devices’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.41 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other news, EVP Rick Bergman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $85.88, for a total value of $257,640.00. Following the completion of the sale, the executive vice president now directly owns 155,232 shares of the company’s stock, valued at approximately $13,331,324.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Rick Bergman sold 3,000 shares of the company’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $85.88, for a total transaction of $257,640.00. Following the transaction, the executive vice president now directly owns 155,232 shares of the company’s stock, valued at approximately $13,331,324.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $85.19, for a total transaction of $2,555,700.00. Following the completion of the sale, the executive vice president now owns 1,516,945 shares of the company’s stock, valued at approximately $129,228,544.55. The disclosure for this sale can be found here. Insiders sold a total of 63,000 shares of company stock worth $5,264,040 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Advanced Micro Devices Company Profile

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Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.