Jennison Associates LLC Sells 4,933,827 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Jennison Associates LLC lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 29.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,832,406 shares of the semiconductor manufacturer's stock after selling 4,933,827 shares during the period. Advanced Micro Devices comprises 1.2% of Jennison Associates LLC's holdings, making the stock its 20th biggest holding. Jennison Associates LLC owned about 0.73% of Advanced Micro Devices worth $1,941,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer's stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares in the last quarter. Van ECK Associates Corp increased its position in Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer's stock worth $1,402,412,000 after buying an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer's stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Advanced Micro Devices in the second quarter valued at approximately $296,178,000. Finally, Swedbank AB bought a new position in Advanced Micro Devices in the 1st quarter worth $290,842,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 3,566,762 shares of the company's stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded down $3.44 during trading on Wednesday, reaching $135.95. 20,068,904 shares of the company's stock were exchanged, compared to its average volume of 55,230,578. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The firm's fifty day moving average price is $154.46 and its 200-day moving average price is $154.95. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $220.62 billion, a PE ratio of 124.19, a PEG ratio of 1.87 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter last year, the company posted $0.53 EPS. Advanced Micro Devices's quarterly revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Analyst Ratings Changes

AMD has been the topic of several research analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Barclays reduced their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. UBS Group lowered their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Finally, TD Cowen decreased their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

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.