Camden National Bank Trims Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Camden National Bank trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,602 shares of the semiconductor manufacturer’s stock after selling 205 shares during the period. Camden National Bank’s holdings in Advanced Micro Devices were worth $263,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares in the last quarter. Van ECK Associates Corp increased its stake in Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after purchasing an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Advanced Micro Devices in the 2nd quarter valued at approximately $296,178,000. Finally, Swedbank AB purchased a new position in Advanced Micro Devices in the 1st quarter valued at approximately $290,842,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMD shares. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Robert W. Baird lowered their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Bank of America reiterated a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Roth Mkm reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Trading Up 0.6 %

Shares of AMD opened at $138.35 on Friday. The stock’s 50-day moving average is $153.67 and its two-hundred day moving average is $154.58. The stock has a market cap of $224.52 billion, a PE ratio of 124.64, a P/E/G ratio of 1.90 and a beta of 1.71. Advanced Micro Devices, Inc. has a 12 month low of $116.37 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share 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.