Garner Asset Management Corp Lowers Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Garner Asset Management Corp reduced its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,430 shares of the semiconductor manufacturer’s stock after selling 473 shares during the quarter. Garner Asset Management Corp’s holdings in Advanced Micro Devices were worth $1,243,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Chase Investment Counsel Corp lifted its stake in shares of Advanced Micro Devices by 0.7% during the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock worth $1,772,000 after purchasing an additional 87 shares in the last quarter. Washburn Capital Management Inc. acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $231,000. Pathway Financial Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $229,000. Independence Bank of Kentucky increased its stake in shares of Advanced Micro Devices by 84.1% during the fourth quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after acquiring an additional 1,677 shares during the period. Finally, Fortis Capital Advisors LLC increased its stake in shares of Advanced Micro Devices by 137.8% during the fourth quarter. Fortis Capital Advisors LLC now owns 12,485 shares of the semiconductor manufacturer’s stock valued at $1,840,000 after acquiring an additional 7,235 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the transaction, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,222,230 shares of the company’s stock, valued at $628,753,739.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The disclosure for this sale can be found here. In the last three months, insiders sold 157,400 shares of company stock worth $30,077,126. 0.73% of the stock is owned by company insiders.

Advanced Micro Devices Stock Down 0.9 %

Shares of NASDAQ AMD traded down $1.38 during mid-day trading on Tuesday, reaching $158.96. 40,443,568 shares of the company’s stock were exchanged, compared to its average volume of 66,843,648. The firm has a market capitalization of $256.93 billion, a price-to-earnings ratio of 232.49, a PEG ratio of 1.93 and a beta of 1.69. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $160.87 and a 200 day simple moving average of $161.90. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the firm earned $0.43 EPS. Advanced Micro Devices’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

AMD has been the subject of a number of recent analyst reports. Benchmark decreased their price objective on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Jefferies Financial Group initiated coverage on shares of Advanced Micro Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $190.00 price objective for the company. Barclays raised their price objective on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and lifted their target price for the company from $180.00 to $225.00 in a research note on Tuesday, April 16th. Finally, UBS Group lowered their target price on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.68.

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.