Shikiar Asset Management Inc. Sells 13,115 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Shikiar Asset Management Inc. lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 16.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 66,287 shares of the semiconductor manufacturer's stock after selling 13,115 shares during the period. Advanced Micro Devices accounts for 2.1% of Shikiar Asset Management Inc.'s portfolio, making the stock its 18th biggest holding. Shikiar Asset Management Inc.'s holdings in Advanced Micro Devices were worth $8,007,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Bradley Foster & Sargent Inc. CT lifted its holdings in Advanced Micro Devices by 2.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,729 shares of the semiconductor manufacturer's stock worth $1,092,000 after purchasing an additional 141 shares during the period. Richardson Financial Services Inc. lifted its holdings in Advanced Micro Devices by 45.1% in the second quarter. Richardson Financial Services Inc. now owns 515 shares of the semiconductor manufacturer's stock worth $84,000 after purchasing an additional 160 shares during the period. ProVise Management Group LLC acquired a new stake in Advanced Micro Devices in the second quarter worth about $399,000. Brighton Jones LLC lifted its holdings in Advanced Micro Devices by 18.5% in the 2nd quarter. Brighton Jones LLC now owns 28,265 shares of the semiconductor manufacturer's stock valued at $4,585,000 after acquiring an additional 4,404 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in Advanced Micro Devices by 10.8% in the 2nd quarter. Ieq Capital LLC now owns 96,038 shares of the semiconductor manufacturer's stock valued at $15,578,000 after acquiring an additional 9,363 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen cut their price target on shares of Advanced Micro Devices from $185.00 to $150.00 and set a "buy" rating for the company in a report on Monday, January 13th. Loop Capital assumed coverage on shares of Advanced Micro Devices in a report on Tuesday. They issued a "buy" rating and a $175.00 price target for the company. Piper Sandler reissued an "overweight" rating and issued a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Mizuho cut their price target on shares of Advanced Micro Devices from $180.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Finally, Barclays cut 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 report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $178.61.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company's stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Up 2.5 %

NASDAQ:AMD traded up $3.02 during mid-day trading on Friday, reaching $121.46. The stock had a trading volume of 35,556,654 shares, compared to its average volume of 34,940,360. The business's 50 day moving average is $130.47 and its 200 day moving average is $145.58. Advanced Micro Devices, Inc. has a fifty-two week low of $114.41 and a fifty-two week high of $227.30. The stock has a market cap of $197.11 billion, a P/E ratio of 109.42, a PEG ratio of 1.03 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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. The firm had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company's revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

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.