Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,519 shares of the semiconductor manufacturer’s stock after selling 934 shares during the quarter. Cullinan Associates Inc.’s holdings in Advanced Micro Devices were worth $816,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AMD. Steele Capital Management Inc. purchased a new position in Advanced Micro Devices in the 1st quarter valued at about $207,000. WESPAC Advisors SoCal LLC purchased a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $299,000. AlphaMark Advisors LLC lifted its stake in shares of Advanced Micro Devices by 63.2% during the first quarter. AlphaMark Advisors LLC now owns 279 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 108 shares during the period. Congress Wealth Management LLC DE boosted its position in Advanced Micro Devices by 30.8% during the first quarter. Congress Wealth Management LLC DE now owns 16,737 shares of the semiconductor manufacturer’s stock worth $3,021,000 after acquiring an additional 3,945 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in Advanced Micro Devices in the 1st quarter valued at $474,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 4.2 %

Shares of AMD opened at $164.31 on Wednesday. The stock has a 50 day simple moving average of $159.30 and a 200-day simple moving average of $165.38. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The stock has a market cap of $265.58 billion, a PE ratio of 241.64, a PEG ratio of 1.87 and a beta of 1.69. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on AMD shares. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Saturday, June 15th. Truist Financial dropped their price target on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group assumed coverage on shares of Advanced Micro Devices in a report on Monday, May 13th. They issued a “buy” rating and a $190.00 price target on the stock. DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Tuesday, May 7th. Finally, KeyCorp cut their target price on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $190.83.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

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.