Truist Financial Corp Sells 98,690 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Truist Financial Corp decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 21.3% in the fourth quarter, Holdings Channel reports. The firm owned 365,498 shares of the semiconductor manufacturer’s stock after selling 98,690 shares during the quarter. Truist Financial Corp’s holdings in Advanced Micro Devices were worth $53,878,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. KFA Private Wealth Group LLC grew its holdings in shares of Advanced Micro Devices by 16.1% in the 4th quarter. KFA Private Wealth Group LLC now owns 3,166 shares of the semiconductor manufacturer’s stock worth $467,000 after purchasing an additional 439 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in Advanced Micro Devices during the fourth quarter worth about $616,000. Callan Capital LLC raised its stake in shares of Advanced Micro Devices by 19.9% in the fourth quarter. Callan Capital LLC now owns 2,492 shares of the semiconductor manufacturer’s stock valued at $367,000 after acquiring an additional 413 shares during the last quarter. Herold Advisors Inc. acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $316,000. Finally, Stanley Laman Group Ltd. bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $263,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

AMD stock opened at $157.40 on Friday. The company’s 50-day moving average price is $177.46 and its two-hundred day moving average price is $150.55. The firm has a market cap of $254.38 billion, a P/E ratio of 302.70, a P/E/G ratio of 2.34 and a beta of 1.64. 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, Inc. has a 12 month low of $81.02 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same period last year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMD. UBS Group lifted their price objective on Advanced Micro Devices from $135.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company raised their price objective on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $190.00 price objective on shares of Advanced Micro Devices in a research report on Monday, March 4th. Finally, TD Cowen increased their price objective on Advanced Micro Devices from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.59.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the sale, the chief executive officer now owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 341,143 shares of company stock valued at $62,580,844. Corporate insiders own 0.73% of the company’s stock.

About Advanced Micro Devices

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.