Advanced Micro Devices, Inc. (NASDAQ:AMD) shares sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 17.1% in the first quarter, according to the company’s latest disclosure with the Securities & Exchange Commission. The fund owned 4,519 shares of the semiconductor maker after selling 934 shares during the quarter. Cullinan Associates Inc.’s stake in Advanced Micro Devices was worth $816,000 at the end of the last quarter.

Several other institutional investors also recently made changes to their positions in AMD. Steele Capital Management Inc. bought a new position in Advanced Micro Devices in the first quarter worth about $207,000. WESPAC Advisors SoCal LLC bought a new position in shares of Advanced Micro Devices in the first quarter worth about $299,000. AlphaMark Advisors LLC increased its stake in shares of Advanced Micro Devices by 63.2% in the first quarter. AlphaMark Advisors LLC now owns 279 shares of the semiconductor maker’s stock worth $50,000 after purchasing an additional 108 shares during the period. Congress Wealth Management LLC DE increased its position in Advanced Micro Devices by 30.8% in the first quarter. Congress Wealth Management LLC DE now owns 16,737 shares of the semiconductor maker’s stock worth $3,021,000 after acquiring an additional 3,945 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Advanced Micro Devices during the first quarter valued at $474,000. 71.34% of the shares are owned by institutional investors and hedge funds.

Sales of advanced microdevices increased by 4.2%

AMD stock opened at $164.31 on Wednesday. The stock has a 50-day simple moving average of $159.30 and a 200-day simple moving average of $165.38. The company has a current ratio of 2.64, a current ratio of 1.92 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $265.58 billion, a P/E ratio of 241.64, a PEG ratio of 1.87 and a beta of 1.69. Advanced Micro Devices, Inc. has a yearly low of $93.11 and a yearly high of $227.30.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, April 30. The semiconductor maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue increased 2.2% year-over-year. During the same period last year, the company posted earnings per share of $0.43. Sell-side analysts, on average, predict that Advanced Micro Devices, Inc. will post 2.61 EPS for the current fiscal year.

Changes in analyst ratings

Several analysts have commented on AMD stock. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Saturday, June 15. Truist Financial lowered their price target on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, May 1. Jefferies Financial Group took control of shares of Advanced Micro Devices in a report on Monday, May 13. They issued a “buy” rating and a $190.00 price target for the stock. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” and set a $190.00 price target for the company in a report on Tuesday, May 7. Finally, KeyCorp lowered their price target on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the stock in a research report on Wednesday, May 1. One research analyst rated the stock with a sell rating, three gave a hold rating, and twenty-seven gave a buy rating. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $190.83.

Check out our latest AMD stock analysis

Internal Transactions at Advanced Micro Devices

In other news, Executive Vice President Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction that occurred on Friday, June 14. The shares were sold at an average price of $158.94, for a total of $2,574,828.00. Following the transaction, the Executive Vice President now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink . Company insiders own 0.65% of the company’s stock.

Advanced Micro Devices Company Profile

(Free report)

Advanced Micro Devices, Inc. operates as a global semiconductor company. 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, as well as semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technologies, data processing units, field programmable gate arrays (FPGAs), and adaptive SoC products.

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