Ameriprise Financial Inc. Lowers Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Ameriprise Financial Inc. trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 15.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,301,973 shares of the semiconductor manufacturer's stock after selling 995,565 shares during the period. Ameriprise Financial Inc. owned 0.33% of Advanced Micro Devices worth $640,630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices during the fourth quarter worth $25,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth about $29,000. Summit Securities Group LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $32,000. Finally, IAG Wealth Partners LLC grew its position in shares of Advanced Micro Devices by 74.7% in the fourth quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer's stock valued at $33,000 after purchasing an additional 118 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMD has been the topic of a number of analyst reports. Barclays lowered their target price on Advanced Micro Devices from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Melius cut Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their target price for the company from $160.00 to $129.00 in a report on Tuesday, January 28th. HSBC reissued a "reduce" rating and issued a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. TD Cowen reduced their price target on Advanced Micro Devices from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, UBS Group decreased their target price on shares of Advanced Micro Devices from $175.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.57.

Insiders Place Their Bets

In other news, EVP Philip Guido bought 4,645 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Stock Down 2.0 %

Advanced Micro Devices stock traded down $1.97 during mid-day trading on Tuesday, reaching $98.62. The stock had a trading volume of 50,667,663 shares, compared to its average volume of 42,237,061. The company has a market capitalization of $159.40 billion, a price-to-earnings ratio of 99.62, a PEG ratio of 1.11 and a beta of 1.97. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The company has a 50-day moving average price of $97.29 and a two-hundred day moving average price of $117.51.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal 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.