Pacer Advisors Inc. Reduces Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pacer Advisors Inc. trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 217,220 shares of the semiconductor manufacturer’s stock after selling 16,270 shares during the quarter. Pacer Advisors Inc.’s holdings in Advanced Micro Devices were worth $35,641,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMD. Creative Capital Management Investments LLC raised its position in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC raised its holdings in shares of Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter valued at $27,000. Finally, Semmax Financial Advisors Inc. boosted its stake in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 139 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMD shares. TD Cowen lowered their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays cut their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Finally, Wedbush restated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

Shares of AMD opened at $138.35 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a market cap of $224.52 billion, a price-to-earnings ratio of 124.64, a PEG ratio of 1.93 and a beta of 1.71. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30. The stock has a 50 day moving average of $153.67 and a 200-day moving average of $154.58.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 2.53 EPS 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.