Pacer Advisors Inc. Trims Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pacer Advisors Inc. lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 7.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 217,220 shares of the semiconductor manufacturer's stock after selling 16,270 shares during the period. Pacer Advisors Inc.'s holdings in Advanced Micro Devices were worth $35,641,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in Advanced Micro Devices by 2.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 395,380 shares of the semiconductor manufacturer's stock valued at $64,874,000 after acquiring an additional 10,613 shares during the period. LPL Financial LLC boosted its stake in shares of Advanced Micro Devices by 12.5% in the third quarter. LPL Financial LLC now owns 1,681,325 shares of the semiconductor manufacturer's stock valued at $275,872,000 after purchasing an additional 186,955 shares during the period. Tradewinds LLC. boosted its stake in shares of Advanced Micro Devices by 6.7% in the third quarter. Tradewinds LLC. now owns 14,320 shares of the semiconductor manufacturer's stock valued at $2,350,000 after purchasing an additional 900 shares during the period. Cypress Capital Group acquired a new position in shares of Advanced Micro Devices in the third quarter valued at approximately $1,703,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Advanced Micro Devices during the 3rd quarter worth approximately $1,942,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 0.6 %

AMD opened at $138.35 on Friday. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30. The business has a 50 day moving average price of $153.67 and a two-hundred day moving average price of $154.58. 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 company has a market cap of $224.52 billion, a PE ratio of 124.64, a P/E/G ratio of 1.93 and a beta of 1.71.

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

Insider Transactions 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 stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares of the company's stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company's stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on AMD shares. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $178.00 to $169.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 30th. Edward Jones started coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a "buy" rating on the stock. 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. Wedbush restated an "outperform" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, TD Cowen reduced 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 report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $192.79.

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.

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