Fred Alger Management LLC Reduces Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Fred Alger Management LLC decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 443,911 shares of the semiconductor manufacturer's stock after selling 220,612 shares during the quarter. Fred Alger Management LLC's holdings in Advanced Micro Devices were worth $53,620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMD. Principal Financial Group Inc. grew its stake in shares of Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer's stock valued at $416,430,000 after purchasing an additional 588,595 shares during the last quarter. Park National Corp OH grew its holdings in shares of Advanced Micro Devices by 87.1% in the 4th quarter. Park National Corp OH now owns 2,683 shares of the semiconductor manufacturer's stock valued at $324,000 after buying an additional 1,249 shares during the period. Watts Gwilliam & Co. LLC raised its position in shares of Advanced Micro Devices by 151.6% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 19,279 shares of the semiconductor manufacturer's stock worth $2,455,000 after purchasing an additional 11,616 shares during the period. Sage Capital Advisors llc lifted its stake in Advanced Micro Devices by 1.6% in the fourth quarter. Sage Capital Advisors llc now owns 6,386 shares of the semiconductor manufacturer's stock valued at $771,000 after buying an additional 98 shares in the last quarter. Finally, Jacobs & Co. CA boosted its stake in Advanced Micro Devices by 13.2% in the 4th quarter. Jacobs & Co. CA now owns 89,030 shares of the semiconductor manufacturer's stock worth $10,753,000 after purchasing an additional 10,404 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the topic of several recent research reports. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Rosenblatt Securities restated a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. Evercore ISI decreased their price objective on Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. UBS Group dropped their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Summit Insights upgraded Advanced Micro Devices to a "hold" rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.13.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Up 1.1 %

AMD stock traded up $1.14 during trading on Friday, reaching $102.84. 31,640,225 shares of the stock were exchanged, compared to its average volume of 42,530,851. The firm's 50 day moving average is $97.41 and its 200 day moving average is $116.65. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The firm has a market cap of $166.22 billion, a P/E ratio of 103.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter last year, the firm posted $0.62 EPS. The company's revenue was up 35.9% compared to the same quarter last year. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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.