Sandy Cove Advisors LLC Sells 986 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sandy Cove Advisors LLC lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,878 shares of the semiconductor manufacturer’s stock after selling 986 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Advanced Micro Devices were worth $589,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Christopher J. Hasenberg Inc boosted its stake in Advanced Micro Devices by 12.0% during the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after acquiring an additional 60 shares in the last quarter. Wealth Effects LLC boosted its position in shares of Advanced Micro Devices by 0.7% in the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock worth $1,545,000 after purchasing an additional 65 shares in the last quarter. Jacobsen Capital Management grew its stake in shares of Advanced Micro Devices by 2.1% in the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock worth $554,000 after buying an additional 70 shares during the last quarter. Sigma Investment Counselors Inc. increased its position in Advanced Micro Devices by 5.3% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $243,000 after buying an additional 74 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its stake in Advanced Micro Devices by 4.3% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock valued at $292,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 2.5 %

NASDAQ AMD opened at $121.46 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $114.41 and a 12 month high of $227.30. 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 $197.11 billion, a PE ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66. The stock’s 50 day moving average is $129.94 and its 200 day moving average is $145.32.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMD. HSBC restated a “reduce” rating and set a $110.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. The Goldman Sachs Group cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their target price on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $178.61.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 over the last quarter. Insiders own 0.65% of the company’s stock.

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.