Truist Financial Corp Sells 98,690 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Truist Financial Corp cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,498 shares of the semiconductor manufacturer’s stock after selling 98,690 shares during the period. Truist Financial Corp’s holdings in Advanced Micro Devices were worth $53,878,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Schear Investment Advisers LLC increased its position in shares of Advanced Micro Devices by 0.4% during the fourth quarter. Schear Investment Advisers LLC now owns 15,762 shares of the semiconductor manufacturer’s stock valued at $2,323,000 after acquiring an additional 64 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Advanced Micro Devices by 36.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 271 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 72 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Avior Wealth Management LLC now owns 7,933 shares of the semiconductor manufacturer’s stock worth $1,169,000 after buying an additional 77 shares during the last quarter. Retirement Planning Group LLC grew its position in Advanced Micro Devices by 2.2% during the fourth quarter. Retirement Planning Group LLC now owns 3,679 shares of the semiconductor manufacturer’s stock valued at $542,000 after buying an additional 79 shares during the period. Finally, Optas LLC increased its holdings in Advanced Micro Devices by 1.7% during the fourth quarter. Optas LLC now owns 4,924 shares of the semiconductor manufacturer’s stock worth $726,000 after buying an additional 80 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMD. Raymond James downgraded shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from $190.00 to $195.00 in a research report on Tuesday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $190.00 target price on shares of Advanced Micro Devices in a research note on Monday, March 4th. Melius upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Evercore ISI started coverage on Advanced Micro Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $200.00 price objective on the stock. Finally, 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 note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $185.59.

Advanced Micro Devices Stock Up 2.4 %

Shares of AMD opened at $157.40 on Friday. The company’s 50-day moving average price is $177.46 and its 200 day moving average price is $150.55. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. The firm has a market cap of $254.38 billion, a P/E ratio of 302.70, a price-to-earnings-growth ratio of 2.34 and a beta of 1.64. Advanced Micro Devices, Inc. has a 12-month low of $81.02 and a 12-month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, March 13th. The shares were 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 owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the sale, the chief executive officer now owns 3,222,230 shares in the company, valued at $628,753,739.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Victor Peng sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares in the company, valued at $42,248,089.26. The disclosure for this sale can be found here. Insiders sold a total of 341,143 shares of company stock worth $62,580,844 over the last ninety days. 0.73% of the stock is owned by company insiders.

Advanced Micro Devices Company 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.