Zacks Investment Management Has $20.51 Million Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Zacks Investment Management cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 169,823 shares of the semiconductor manufacturer’s stock after selling 27,204 shares during the period. Zacks Investment Management’s holdings in Advanced Micro Devices were worth $20,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMD. Bear Mountain Capital Inc. bought a new stake in Advanced Micro Devices during the fourth quarter valued at $25,000. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $29,000. Summit Securities Group LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $32,000. Institutional investors own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In related news, EVP Philip Guido bought 4,645 shares of the stock in a transaction on Friday, February 7th. The stock was bought at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This represents a 16.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Down 7.3 %

AMD opened at $88.29 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $101.86 and a 200 day moving average price of $124.57. The company has a market cap of $142.70 billion, a PE ratio of 89.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting the consensus estimate 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 fiscal year.

Analysts Set New Price Targets

AMD has been the topic of a number of research reports. TD Cowen lowered their price objective on Advanced Micro Devices from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Loop Capital initiated coverage on shares of Advanced Micro Devices in a research report on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price objective on the stock. Wolfe Research downgraded shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $175.00 to $129.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.76.

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.