Wellington Management Group LLP Trims Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Wellington Management Group LLP trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 40.9% during the 3rd quarter, Holdings Channel reports. The firm owned 4,880,195 shares of the semiconductor manufacturer’s stock after selling 3,384,281 shares during the quarter. Wellington Management Group LLP’s holdings in Advanced Micro Devices were worth $800,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its holdings in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. Fisher Asset Management LLC raised its stake in Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Advanced Micro Devices by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Legal & General Group Plc increased its position in shares of Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after acquiring an additional 188,580 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after acquiring an additional 177,700 shares during the period. Institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock worth $28,165,821 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $138.59 on Friday. The stock has a market cap of $224.91 billion, a price-to-earnings ratio of 124.86, a price-to-earnings-growth ratio of 1.96 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock has a 50 day moving average price of $150.65 and a 200-day moving average price of $153.57. Advanced Micro Devices, Inc. has a one year low of $119.56 and a one year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted 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. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Equities analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMD. Evercore ISI upped their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Morgan Stanley decreased their price target on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Citigroup reduced their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Mizuho cut their price target on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.59.

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.