Occidental Asset Management LLC Sells 565 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Occidental Asset Management LLC trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,215 shares of the semiconductor manufacturer’s stock after selling 565 shares during the period. Occidental Asset Management LLC’s holdings in Advanced Micro Devices were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in Advanced Micro Devices during the fourth quarter valued at approximately $1,252,070,000. Moneta Group Investment Advisors LLC boosted its stake in Advanced Micro Devices by 105,415.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,526,710 shares of the semiconductor manufacturer’s stock valued at $552,275,000 after buying an additional 8,518,629 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Advanced Micro Devices in the first quarter worth approximately $777,111,000. Northern Trust Corp raised its holdings in shares of Advanced Micro Devices by 35.5% in the first quarter. Northern Trust Corp now owns 17,086,683 shares of the semiconductor manufacturer’s stock worth $1,868,258,000 after buying an additional 4,475,368 shares during the period. Finally, Barclays PLC raised its holdings in shares of Advanced Micro Devices by 38.5% in the second quarter. Barclays PLC now owns 8,916,462 shares of the semiconductor manufacturer’s stock worth $1,015,677,000 after buying an additional 2,479,272 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares in the company, valued at $42,248,089.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the sale, the insider now owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph A. Householder sold 6,572 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the sale, the director now directly owns 2,197 shares in the company, valued at approximately $457,151.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,943 shares of company stock worth $59,919,994. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded up $0.90 on Friday, hitting $180.49. 57,628,614 shares of the company were exchanged, compared to its average volume of 78,801,392. The stock has a market capitalization of $291.70 billion, a price-to-earnings ratio of 347.10, a price-to-earnings-growth ratio of 2.70 and a beta of 1.66. The company has a 50-day moving average price of $181.37 and a 200 day moving average price of $141.24. Advanced Micro Devices, Inc. has a 1-year low of $81.02 and a 1-year high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMD has been the topic of several recent analyst reports. Northland Securities upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a report on Wednesday, January 31st. Wedbush reissued an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, January 31st. TD Cowen increased their price objective on Advanced Micro Devices from $130.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Morgan Stanley increased their price objective on Advanced Micro Devices from $128.00 to $193.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Finally, Barclays increased their price objective on Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $181.82.

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.