Bank of New York Mellon Corp Sells 826,024 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bank of New York Mellon Corp lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,573,915 shares of the semiconductor manufacturer’s stock after selling 826,024 shares during the period. Bank of New York Mellon Corp owned approximately 0.65% of Advanced Micro Devices worth $1,277,223,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB boosted its holdings in Advanced Micro Devices by 0.8% during the third quarter. Swedbank AB now owns 2,151,636 shares of the semiconductor manufacturer’s stock worth $353,040,000 after buying an additional 17,446 shares in the last quarter. Howard Capital Management Group LLC grew its holdings in shares of Advanced Micro Devices by 21.6% during the third quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock worth $300,000 after buying an additional 324 shares in the last quarter. Modera Wealth Management LLC raised its holdings in Advanced Micro Devices by 12.4% in the 3rd quarter. Modera Wealth Management LLC now owns 3,758 shares of the semiconductor manufacturer’s stock valued at $617,000 after acquiring an additional 415 shares during the last quarter. Bristlecone Advisors LLC grew its position in shares of Advanced Micro Devices by 41.3% in the third quarter. Bristlecone Advisors LLC now owns 5,128 shares of the semiconductor manufacturer’s stock valued at $841,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Clear Harbor Asset Management LLC increased its holdings in shares of Advanced Micro Devices by 9.5% in the third quarter. Clear Harbor Asset Management LLC now owns 3,318 shares of the semiconductor manufacturer’s stock valued at $544,000 after purchasing an additional 289 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AMD. Stifel Nicolaus cut their price objective on shares of Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Morgan Stanley set a $137.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Summit Insights upgraded shares of Advanced Micro Devices to a “hold” rating in a report on Tuesday, February 4th. Finally, Piper Sandler restated an “overweight” rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.83.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Advanced Micro Devices Stock Down 2.5 %

Shares of NASDAQ:AMD opened at $108.11 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $118.47 and a 200-day simple moving average of $137.86. The company has a market capitalization of $175.19 billion, a PE ratio of 109.20, a P/E/G ratio of 1.11 and a beta of 1.66. Advanced Micro Devices, Inc. has a twelve month low of $106.50 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices 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.