Truist Financial Corp Sells 27,081 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Truist Financial Corp reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,264 shares of the semiconductor manufacturer’s stock after selling 27,081 shares during the period. Truist Financial Corp’s holdings in Advanced Micro Devices were worth $56,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AMD. Tradewinds Capital Management LLC lifted its stake in Advanced Micro Devices by 102.9% during the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares during the last quarter. Morton Brown Family Wealth LLC lifted its stake in Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the last quarter. Fairway Wealth LLC bought a new stake in Advanced Micro Devices during the second quarter worth $27,000. Northwest Bank & Trust Co bought a new stake in Advanced Micro Devices during the fourth quarter worth $28,000. Finally, Semmax Financial Advisors Inc. lifted its stake in Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMD. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. KeyCorp lowered their price target on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Robert W. Baird lowered their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Barclays lowered their price target on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.45.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $159.75 on Wednesday. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30. The company’s 50 day moving average price is $146.75 and its two-hundred day moving average price is $158.17. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The stock has a market cap of $258.21 billion, a P/E ratio of 234.93, a P/E/G ratio of 2.14 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the firm earned $0.40 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

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.