Meeder Asset Management Inc. Reduces Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Meeder Asset Management Inc. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 97.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 886 shares of the semiconductor manufacturer's stock after selling 32,022 shares during the quarter. Meeder Asset Management Inc.'s holdings in Advanced Micro Devices were worth $145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tranquility Partners LLC grew its position in Advanced Micro Devices by 8.2% in the 3rd quarter. Tranquility Partners LLC now owns 1,356 shares of the semiconductor manufacturer's stock valued at $222,000 after acquiring an additional 103 shares in the last quarter. Caprock Group LLC grew its position in Advanced Micro Devices by 4.5% in the 3rd quarter. Caprock Group LLC now owns 28,813 shares of the semiconductor manufacturer's stock valued at $4,728,000 after acquiring an additional 1,250 shares in the last quarter. Fortis Advisors LLC grew its position in Advanced Micro Devices by 66.7% in the 3rd quarter. Fortis Advisors LLC now owns 1,750 shares of the semiconductor manufacturer's stock valued at $287,000 after acquiring an additional 700 shares in the last quarter. Aviance Capital Partners LLC grew its position in Advanced Micro Devices by 93.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 52,350 shares of the semiconductor manufacturer's stock valued at $8,590,000 after acquiring an additional 25,235 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its stake in shares of Advanced Micro Devices by 3.9% in the 3rd quarter. Drive Wealth Management LLC now owns 4,887 shares of the semiconductor manufacturer's stock valued at $802,000 after buying an additional 183 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent research reports. BNP Paribas upgraded Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, July 31st. Benchmark reiterated a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. UBS Group decreased their price objective on 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. Susquehanna reiterated a "positive" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, Truist Financial decreased their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a "hold" rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $192.79.

Advanced Micro Devices Price Performance

AMD stock traded down $1.79 on Wednesday, reaching $137.60. 28,672,194 shares of the company's stock were exchanged, compared to its average volume of 55,271,832. The stock has a fifty day moving average of $154.46 and a 200-day moving average of $154.95. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The firm has a market cap of $223.30 billion, a PE ratio of 124.19, a P/E/G ratio of 1.87 and a beta of 1.71. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

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

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % 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 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.