Sumitomo Life Insurance Co. Has $8.31 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sumitomo Life Insurance Co. cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,794 shares of the semiconductor manufacturer's stock after selling 3,209 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Advanced Micro Devices were worth $8,310,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC lifted its stake in shares of Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC lifted its position in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 75 shares during the period. Global Wealth Strategies & Associates acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $26,000. Retirement Wealth Solutions LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $32,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AMD. Piper Sandler reissued an "overweight" rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. UBS Group reduced their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Mizuho lowered their target price on shares of Advanced Micro Devices from $180.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. Morgan Stanley decreased their price target on Advanced Micro Devices from $169.00 to $158.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Finally, The Goldman Sachs Group downgraded Advanced Micro Devices from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $175.00 to $129.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and an average target price of $171.86.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares of the company's stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock worth $28,165,821 over the last ninety days. 0.65% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Up 2.7 %

AMD stock traded up $3.10 during midday trading on Wednesday, reaching $117.27. The company had a trading volume of 33,534,553 shares, compared to its average volume of 38,943,500. The company has a 50 day moving average of $127.14 and a two-hundred day moving average of $142.27. The company has a market capitalization of $190.30 billion, a P/E ratio of 105.74, a PEG ratio of 1.09 and a beta of 1.66. Advanced Micro Devices, Inc. has a 1 year low of $112.80 and a 1 year high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $6.82 billion for 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 business's revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

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.