Longitude Cayman Ltd. Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Longitude Cayman Ltd. reduced its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 23.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,100 shares of the semiconductor manufacturer's stock after selling 9,400 shares during the quarter. Advanced Micro Devices accounts for about 2.6% of Longitude Cayman Ltd.'s investment portfolio, making the stock its 11th largest position. Longitude Cayman Ltd.'s holdings in Advanced Micro Devices were worth $4,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Chase Investment Counsel Corp lifted its stake in 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 during the last quarter. Washburn Capital Management Inc. purchased a new stake in Advanced Micro Devices in the fourth quarter worth approximately $231,000. Pathway Financial Advisors LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth approximately $229,000. Independence Bank of Kentucky raised 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 worth $541,000 after acquiring an additional 1,677 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $1,759,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMD. Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 31st. TD Cowen boosted their target price on Advanced Micro Devices from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, April 18th. Citigroup reduced their price target on Advanced Micro Devices from $192.00 to $176.00 and set a "buy" rating on the stock in a research report on Wednesday, May 1st. Cantor Fitzgerald lowered their price objective on Advanced Micro Devices from $190.00 to $170.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Finally, KeyCorp dropped their price objective on Advanced Micro Devices from $270.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $185.26.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded up $1.85 on Friday, reaching $164.47. The company's stock had a trading volume of 65,944,362 shares, compared to its average volume of 47,430,504. The company has a 50-day simple moving average of $167.27 and a 200 day simple moving average of $156.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. The company has a market cap of $265.83 billion, a P/E ratio of 241.87, a PEG ratio of 2.51 and a beta of 1.66. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to analysts' expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, Director Joseph A. Householder sold 6,572 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the completion of the sale, the director now directly owns 2,197 shares of the company's stock, valued at $457,151.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Lisa T. Su sold 125,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,222,230 shares of the company's stock, valued at approximately $628,753,739.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph A. Householder sold 6,572 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $208.08, for a total value of $1,367,501.76. Following the completion of the sale, the director now directly owns 2,197 shares of the company's stock, valued at approximately $457,151.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,650 shares of company stock valued at $31,761,199. Company insiders own 0.73% of the company's stock.

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.