Ionic Capital Management LLC Sells 12,700 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Ionic Capital Management LLC decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 76.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,900 shares of the semiconductor manufacturer's stock after selling 12,700 shares during the period. Ionic Capital Management LLC's holdings in Advanced Micro Devices were worth $471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bear Mountain Capital Inc. bought a new position in Advanced Micro Devices during the 4th quarter valued at approximately $25,000. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth about $29,000. Summit Securities Group LLC bought a new position in Advanced Micro Devices in the 4th quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Advanced Micro Devices during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Up 2.0%

Shares of NASDAQ:AMD traded up $2.17 during trading on Tuesday, reaching $110.29. The company's stock had a trading volume of 14,340,175 shares, compared to its average volume of 42,475,811. The stock has a market capitalization of $178.82 billion, a PE ratio of 111.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm's 50 day simple moving average is $97.54 and its two-hundred day simple moving average is $115.80.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Robert W. Baird cut their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Melius cut Advanced Micro Devices from a "buy" rating to a "hold" rating and decreased their price target for the stock from $160.00 to $129.00 in a research note on Tuesday, January 28th. Barclays dropped their price objective on Advanced Micro Devices from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.13.

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.