Synovus Financial Corp Raises Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Synovus Financial Corp lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 26.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,769 shares of the semiconductor manufacturer's stock after purchasing an additional 7,006 shares during the quarter. Synovus Financial Corp's holdings in Advanced Micro Devices were worth $5,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Advanced Micro Devices by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer's stock valued at $1,584,515,000 after purchasing an additional 177,700 shares during the last quarter. Swiss National Bank increased its position in Advanced Micro Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer's stock valued at $787,186,000 after buying an additional 12,500 shares in the last quarter. Shum Financial Group Inc. purchased a new position in Advanced Micro Devices during the third quarter valued at $858,000. State Street Corp boosted its holdings in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer's stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer's stock worth $5,597,337,000 after acquiring an additional 441,924 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 over the last three months. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Price Performance

Shares of AMD stock traded down $3.69 during trading hours on Friday, hitting $126.91. The stock had a trading volume of 67,544,738 shares, compared to its average volume of 53,878,945. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock has a market capitalization of $205.95 billion, a price-to-earnings ratio of 114.33, a PEG ratio of 1.88 and a beta of 1.65. Advanced Micro Devices, Inc. has a one year low of $121.82 and a one year high of $227.30. The stock's 50-day moving average price is $146.72 and its two-hundred day moving average price is $152.15.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. Advanced Micro Devices's quarterly revenue was up 17.6% on a year-over-year basis. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMD shares. Citigroup dropped their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. TD Cowen cut their target price on Advanced Micro Devices from $210.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Evercore ISI lifted their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Edward Jones assumed coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a "buy" rating on the stock. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.36.

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.