Investment Management Corp of Ontario Sells 29,231 Shares of Advanced Micro Devices, Inc. $AMD

Investment Management Corp of Ontario lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 34.9% in the second quarter, HoldingsChannel reports. The fund owned 54,642 shares of the semiconductor manufacturer’s stock after selling 29,231 shares during the period. Investment Management Corp of Ontario’s holdings in Advanced Micro Devices were worth $7,754,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC raised its stake in Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after purchasing an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after acquiring an additional 234 shares in the last quarter. Entropy Technologies LP acquired a new position in Advanced Micro Devices during the first quarter valued at approximately $943,000. SouthState Corp lifted its stake in Advanced Micro Devices by 262.3% during the first quarter. SouthState Corp now owns 1,536 shares of the semiconductor manufacturer’s stock worth $158,000 after purchasing an additional 1,112 shares during the last quarter. Finally, Maia Wealth LLC acquired a new stake in shares of Advanced Micro Devices in the 1st quarter valued at $257,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,450 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the sale, the executive vice president directly owned 300,348 shares of the company’s stock, valued at $68,890,820.76. The trade was a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark D. Papermaster sold 17,108 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $240.12, for a total value of $4,107,972.96. Following the completion of the sale, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at $411,686,940.60. This trade represents a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,476 shares of company stock worth $13,356,593 in the last quarter. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Trading Up 0.2%

NASDAQ:AMD opened at $221.62 on Wednesday. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $267.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.68 and a current ratio of 2.31. The firm’s fifty day moving average is $228.01 and its 200-day moving average is $177.81. The firm has a market cap of $360.81 billion, a P/E ratio of 109.71, a P/E/G ratio of 1.64 and a beta of 1.93.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The business had revenue of $9.25 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research analyst reports. Truist Financial reissued a “buy” rating and set a $279.00 target price (up previously from $273.00) on shares of Advanced Micro Devices in a research note on Wednesday, November 5th. DZ Bank raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $260.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft set a $235.00 target price on Advanced Micro Devices and gave the stock a “hold” rating in a report on Tuesday, October 14th. Finally, The Goldman Sachs Group upped their price objective on Advanced Micro Devices from $150.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $278.54.

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.