First Citizens Bank & Trust Co. Sells 3,065 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

First Citizens Bank & Trust Co. cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,418 shares of the semiconductor manufacturer’s stock after selling 3,065 shares during the period. First Citizens Bank & Trust Co.’s holdings in Advanced Micro Devices were worth $2,225,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMD. Creative Capital Management Investments LLC raised its position in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC raised its position in Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the period. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $26,000. Retirement Wealth Solutions LLC bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $32,000. Finally, FSA Wealth Management LLC bought a new position in Advanced Micro Devices in the third quarter worth approximately $41,000. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMD shares. The Goldman Sachs Group cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their target price for the company from $175.00 to $129.00 in a research note on Friday, January 10th. TD Cowen dropped their target price on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a report on Monday, January 13th. Loop Capital initiated coverage on shares of Advanced Micro Devices in a report on Tuesday, January 14th. They issued a “buy” rating and a $175.00 target price for the company. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Finally, Citigroup dropped their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.33.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $122.84 on Monday. The company has a market capitalization of $199.35 billion, a price-to-earnings ratio of 110.67, a PEG ratio of 1.09 and a beta of 1.66. Advanced Micro Devices, Inc. has a 12 month low of $114.41 and a 12 month high of $227.30. The firm’s 50-day moving average is $128.12 and its 200 day moving average is $143.50. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. Research analysts predict that Advanced Micro Devices, Inc. will post 2.54 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.