Federated Hermes Inc. Sells 304,943 Shares of Advanced Micro Devices, Inc. $AMD

Federated Hermes Inc. cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 66.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,800 shares of the semiconductor manufacturer’s stock after selling 304,943 shares during the period. Federated Hermes Inc.’s holdings in Advanced Micro Devices were worth $21,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Advanced Micro Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock valued at $21,944,673,000 after acquiring an additional 2,281,508 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock worth $5,181,556,000 after purchasing an additional 514,445 shares in the last quarter. Norges Bank acquired a new stake in Advanced Micro Devices in the 2nd quarter valued at $3,094,662,000. Amundi increased its stake in Advanced Micro Devices by 8.0% during the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock valued at $1,677,014,000 after purchasing an additional 1,319,064 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Advanced Micro Devices by 6.1% during the second quarter. Invesco Ltd. now owns 12,534,569 shares of the semiconductor manufacturer’s stock worth $1,778,655,000 after buying an additional 715,557 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 0.2%

AMD stock opened at $221.62 on Wednesday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $267.08. The stock has a market cap of $360.81 billion, a P/E ratio of 109.71, a P/E/G ratio of 1.64 and a beta of 1.93. The stock’s fifty day simple moving average is $228.01 and its two-hundred day simple moving average is $177.81. The company has a current ratio of 2.31, a quick ratio of 1.68 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $9.25 billion for the quarter, compared to the consensus estimate of $8.76 billion. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The firm’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Analysts Set New Price Targets

AMD has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Wall Street Zen upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. increased their price objective on Advanced Micro Devices from $180.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Cowen restated a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Advanced Micro Devices in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.54.

Insider Activity

In other Advanced Micro Devices news, SVP Ava Hahn sold 2,868 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $226.01, for a total transaction of $648,196.68. Following the completion of the transaction, the senior vice president directly owned 9,033 shares of the company’s stock, valued at approximately $2,041,548.33. This represents a 24.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 19,450 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the sale, the executive vice president directly owned 300,348 shares of the company’s stock, valued at $68,890,820.76. This represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 58,476 shares of company stock valued at $13,356,593 in the last three months. Company insiders own 0.06% of the company’s stock.

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.