Beacon Investment Advisory Services Inc. Cuts Stake in Advanced Micro Devices, Inc. $AMD

Beacon Investment Advisory Services Inc. decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 163,765 shares of the semiconductor manufacturer’s stock after selling 7,903 shares during the period. Advanced Micro Devices makes up approximately 1.1% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 25th largest holding. Beacon Investment Advisory Services Inc.’s holdings in Advanced Micro Devices were worth $26,496,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Advanced Micro Devices by 1.5% in the second quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock worth $21,944,673,000 after buying an additional 2,281,508 shares during the last quarter. State Street Corp raised its stake in Advanced Micro Devices by 0.8% in the 2nd quarter. State Street Corp now owns 72,069,259 shares of the semiconductor manufacturer’s stock worth $10,226,628,000 after acquiring an additional 581,330 shares during the last quarter. Geode Capital Management LLC lifted its position in Advanced Micro Devices by 1.4% during 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 acquiring an additional 514,445 shares during the period. Norges Bank acquired a new position in shares of Advanced Micro Devices in the second quarter valued at about $3,094,662,000. Finally, Amundi raised its stake in shares of Advanced Micro Devices by 8.0% in the first quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock worth $1,677,014,000 after purchasing an additional 1,319,064 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.14, for a total transaction of $26,892,500.00. Following the transaction, the chief executive officer directly owned 3,277,476 shares of the company’s stock, valued at $705,116,186.64. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 17,108 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the completion of the sale, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at approximately $411,686,940.60. This trade represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 181,226 shares of company stock valued at $39,877,820 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMD has been the topic of several research reports. Barclays reiterated an “overweight” rating on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Loop Capital set a $290.00 target price on shares of Advanced Micro Devices and gave the stock a “buy” rating in a report on Wednesday, November 5th. KGI Securities set a $260.00 price target on shares of Advanced Micro Devices and gave the company an “outperform” rating in a report on Monday, October 13th. Raymond James Financial started coverage on Advanced Micro Devices in a report on Thursday, November 20th. They issued an “outperform” rating and a $377.00 price objective for the company. Finally, Mizuho raised their target price on Advanced Micro Devices from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $277.06.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $214.99 on Friday. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $267.08. The stock has a market cap of $350.01 billion, a PE ratio of 106.43, a P/E/G ratio of 1.59 and a beta of 1.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.68 and a current ratio of 2.31. The stock has a 50 day moving average price of $228.40 and a 200 day moving average price of $185.71.

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

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.