Everence Capital Management Inc. Reduces Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Everence Capital Management Inc. reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,256 shares of the semiconductor manufacturer’s stock after selling 7,150 shares during the period. Everence Capital Management Inc.’s holdings in Advanced Micro Devices were worth $4,259,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after buying an additional 177,700 shares during the last quarter. Swiss National Bank boosted its holdings in Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares during the last quarter. Shum Financial Group Inc. acquired a new stake in Advanced Micro Devices during the 3rd quarter valued at approximately $858,000. State Street Corp increased 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 worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after purchasing an additional 441,924 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction 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 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. 0.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. TD Cowen cut their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday, October 28th. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Evercore ISI lifted their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.96.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded up $3.17 on Friday, hitting $123.80. The company’s stock had a trading volume of 15,795,159 shares, compared to its average volume of 24,280,125. The company has a market capitalization of $200.90 billion, a price-to-earnings ratio of 111.53, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices, Inc. has a 12 month low of $117.90 and a 12 month high of $227.30. The stock’s 50-day moving average is $136.07 and its two-hundred day moving average is $148.19.

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

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.