MetLife Investment Management LLC Has $76.97 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

MetLife Investment Management LLC reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 469,095 shares of the semiconductor manufacturer’s stock after selling 11,202 shares during the period. MetLife Investment Management LLC’s holdings in Advanced Micro Devices were worth $76,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMD. Fisher Asset Management LLC boosted its stake in shares of 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 purchasing an additional 644,039 shares in the last quarter. Legal & General Group Plc boosted its position in Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after buying an additional 188,580 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Advanced Micro Devices by 1.9% during the 3rd 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 last quarter. Van ECK Associates Corp increased its position in Advanced Micro Devices by 11.3% in the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after acquiring an additional 975,220 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Advanced Micro Devices by 42.2% during the third 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 acquiring an additional 2,497,056 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Trading Down 0.3 %

NASDAQ AMD opened at $137.35 on Wednesday. The stock has a market cap of $222.89 billion, a P/E ratio of 124.07, a price-to-earnings-growth ratio of 1.95 and a beta of 1.71. Advanced Micro Devices, Inc. has a fifty-two week low of $116.37 and a fifty-two week high of $227.30. The stock has a 50 day simple moving average of $153.19 and a two-hundred day simple moving average of $154.41. 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 (NASDAQ:AMD) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates 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 revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. On average, analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred 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 sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $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. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMD shares. Barclays lowered their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Bank of America reissued a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Robert W. Baird reduced their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

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.