DnB Asset Management AS Sells 405,275 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

DnB Asset Management AS trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 29.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 985,077 shares of the semiconductor manufacturer’s stock after selling 405,275 shares during the quarter. Advanced Micro Devices makes up about 0.7% of DnB Asset Management AS’s portfolio, making the stock its 27th largest holding. DnB Asset Management AS owned about 0.06% of Advanced Micro Devices worth $112,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. raised its stake in shares of Advanced Micro Devices by 19.1% during the first quarter. Itau Unibanco Holding S.A. now owns 103,735 shares of the semiconductor manufacturer’s stock valued at $10,167,000 after acquiring an additional 16,622 shares during the last quarter. Shikiar Asset Management Inc. acquired a new stake in shares of Advanced Micro Devices in the first quarter valued at about $10,199,000. Vicus Capital bought a new position in shares of Advanced Micro Devices during the first quarter worth about $243,000. Liberty One Investment Management LLC lifted its stake in shares of Advanced Micro Devices by 5.0% in the first quarter. Liberty One Investment Management LLC now owns 2,247 shares of the semiconductor manufacturer’s stock worth $220,000 after acquiring an additional 108 shares during the period. Finally, SouthState Corp boosted its holdings in Advanced Micro Devices by 128.1% in the fourth quarter. SouthState Corp now owns 885 shares of the semiconductor manufacturer’s stock valued at $57,000 after acquiring an additional 497 shares during the last quarter. Institutional investors own 68.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Advanced Micro Devices from $92.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Susquehanna lifted their price objective on Advanced Micro Devices from $135.00 to $145.00 and gave the stock a “positive” rating in a research report on Wednesday, August 2nd. Northland Securities upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and upped their target price for the company from $81.00 to $150.00 in a research report on Wednesday, July 5th. Craig Hallum lifted their target price on Advanced Micro Devices from $100.00 to $158.00 in a report on Wednesday, June 14th. Finally, Jefferies Financial Group increased their price target on Advanced Micro Devices from $100.00 to $145.00 in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.19.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 75,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $111.59, for a total value of $8,369,250.00. Following the sale, the chief executive officer now directly owns 3,192,774 shares in the company, valued at $356,281,650.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Advanced Micro Devices news, CEO Lisa T. Su sold 75,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $111.59, for a total transaction of $8,369,250.00. Following the completion of the transaction, the chief executive officer now owns 3,192,774 shares in the company, valued at $356,281,650.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Darren Grasby sold 14,942 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $106.21, for a total transaction of $1,586,989.82. Following the completion of the sale, the executive vice president now directly owns 103,663 shares in the company, valued at approximately $11,010,047.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,643 shares of company stock valued at $13,490,584. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Performance

AMD traded up $0.03 during trading on Thursday, hitting $107.74. 21,821,061 shares of the company traded hands, compared to its average volume of 63,779,770. Advanced Micro Devices, Inc. has a one year low of $54.57 and a one year high of $132.83. The stock’s fifty day moving average is $110.34 and its 200 day moving average is $104.11. The company has a quick ratio of 1.58, a current ratio of 2.18 and a debt-to-equity ratio of 0.03. The firm has a market cap of $174.07 billion, a P/E ratio of -5,385.50, a price-to-earnings-growth ratio of 5.91 and a beta of 1.80.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, August 1st. The semiconductor manufacturer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Advanced Micro Devices had a negative net margin of 0.11% and a positive return on equity of 5.69%. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was down 18.2% on a year-over-year basis. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 2.01 EPS for the current fiscal year.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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.