Avalon Global Asset Management LLC Sells 60,000 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avalon Global Asset Management LLC lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 33.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,200 shares of the semiconductor manufacturer’s stock after selling 60,000 shares during the quarter. Advanced Micro Devices makes up 3.0% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Avalon Global Asset Management LLC’s holdings in Advanced Micro Devices were worth $19,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMD. Massmutual Trust Co. FSB ADV boosted its position in shares of Advanced Micro Devices by 18.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,750 shares of the semiconductor manufacturer’s stock worth $770,000 after buying an additional 733 shares during the period. Mather Group LLC. lifted its stake in Advanced Micro Devices by 57.0% in the 2nd quarter. Mather Group LLC. now owns 14,402 shares of the semiconductor manufacturer’s stock worth $2,336,000 after acquiring an additional 5,226 shares in the last quarter. Fragasso Financial Advisors Inc boosted its position in Advanced Micro Devices by 25.5% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 1,585 shares of the semiconductor manufacturer’s stock worth $257,000 after acquiring an additional 322 shares during the period. Trust Co. of Vermont grew its stake in Advanced Micro Devices by 28.6% during the 2nd quarter. Trust Co. of Vermont now owns 4,546 shares of the semiconductor manufacturer’s stock valued at $737,000 after acquiring an additional 1,012 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Advanced Micro Devices in the 2nd quarter valued at about $199,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $137.18 on Monday. The company has a market cap of $222.62 billion, a price-to-earnings ratio of 123.59, a PEG ratio of 1.89 and a beta of 1.71. The business has a 50 day moving average price of $152.16 and a 200 day moving average price of $154.03. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued 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 company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Research analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMD has been the subject of several research reports. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. Edward Jones began coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating for the company. Citigroup dropped their price target on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. TD Cowen reduced their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Benchmark restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average 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.