Corebridge Financial Inc. Reduces Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Corebridge Financial Inc. lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 507,101 shares of the semiconductor manufacturer's stock after selling 27,626 shares during the period. Corebridge Financial Inc.'s holdings in Advanced Micro Devices were worth $61,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after acquiring an additional 2,238,866 shares during the period. State Street Corp lifted its position in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer's stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Advanced Micro Devices by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer's stock valued at $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock valued at $18,143,884,000 after buying an additional 1,441,626 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new position in Advanced Micro Devices in the fourth quarter worth about $165,952,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

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Advanced Micro Devices Stock Performance

AMD traded down $3.54 during trading on Thursday, hitting $106.65. The company's stock had a trading volume of 32,729,927 shares, compared to its average volume of 43,129,809. Advanced Micro Devices, Inc. has a one year low of $94.73 and a one year high of $187.28. The business's 50 day simple moving average is $109.75 and its 200-day simple moving average is $131.14. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $172.82 billion, a PE ratio of 107.73, a P/E/G ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Argus set a $160.00 target price on Advanced Micro Devices in a report on Thursday, February 6th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. UBS Group set a $175.00 price objective on Advanced Micro Devices in a research report on Wednesday, February 5th. Melius downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their target price for the stock from $160.00 to $129.00 in a research report on Tuesday, January 28th. Finally, Barclays decreased their price target on shares of Advanced Micro Devices from $170.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.72.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.73% of the company's stock.

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.