International Assets Investment Management LLC Reduces Stake in AMD Significantly

International Assets Investment Management LLC has drastically reduced its investment in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report), cutting its stake by 99.5% during the fourth quarter. This significant reduction in holdings was detailed in the company's latest filing with the Securities and Exchange Commission (SEC). Following the reduction, the fund now owns 36,050 shares of the semiconductor manufacturer after selling off a staggering 7,824,859 shares throughout the quarter. As of the end of this quarter, the value of International Assets Investment Management LLC's investment in Advanced Micro Devices is approximately $4.35 million.

Numerous other investors have also modified their positions in AMD recently. For instance, Creative Capital Management Investments LLC increased its stake in Advanced Micro Devices by an impressive 124.6% during the third quarter, now holding 155 shares worth around $25,000 after acquiring 86 additional shares. Similarly, ZRC Wealth Management LLC augmented its stake by 90.4% in the same period, resulting in ownership of 158 shares valued at approximately $26,000 after purchasing 75 additional shares. Additionally, Global Wealth Strategies & Associates obtained a new investment in AMD, valued at $26,000 during the fourth quarter. Fairway Wealth LLC also acquired new shares in the company during the second quarter, with an estimated value of about $27,000, while Abich Financial Wealth Management LLC raised its stake by 101.8% in the same period, holding 220 shares now worth approximately $36,000. Institutional investors hold a substantial 71.34% of AMD's total stock.

Recent Analyst Ratings for AMD

Various brokerage firms have recently issued new ratings for Advanced Micro Devices. Mizuho has reduced its price target for AMD from $185.00 to $180.00 while maintaining an "outperform" rating, according to a report released on December 5th. Citigroup also lowered its price target from $210.00 to $200.00, issuing a "buy" rating in a report dated October 30th. Cantor Fitzgerald reaffirmed its "overweight" rating, setting a target price of $180.00. UBS Group cut its price target from $210.00 to $205.00, welcoming a "buy" rating for the stock as well. Lastly, Roth Mkm reiterated a "buy" rating with a price objective set at $200.00 in a report on October 11th. In total, one research analyst has rated AMD with a sell, five have given it a hold rating, and twenty-five analysts have issued a buy rating. Overall, the average rating for AMD stands at "Moderate Buy," with an average price target of $187.86, according to data from MarketBeat.com.

Recent Trading Activity for Advanced Micro Devices

On Wednesday, shares of AMD witnessed a decline of 4.8% during mid-day trading, dropping to $121.22. Trading volume reached 16,098,498 shares, which is below the company's average volume of 33,724,996 shares. Advanced Micro Devices has a current ratio of 2.50, a quick ratio of 1.78, and a notably low debt-to-equity ratio of 0.03. The stock's moving averages indicate a 50-day average price of $134.07 and a 200-day average price of $147.40, with a market capitalization of approximately $196.72 billion. Its price-to-earnings ratio is at 109.21, with a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. AMD has experienced a low of $117.90 and a high of $227.30 over the past year.

Quarterly Earnings Reports

Advanced Micro Devices, Inc. announced its quarterly earnings results on October 29th, where the company reported earnings of $0.92 per share for the quarter, aligning with analyst predictions. The firm achieved a return on equity of 6.62% and a net margin of 7.52%. The revenue for the quarter stood at $6.82 billion, exceeding the forecast of $6.71 billion from analysts. Comparing year-on-year, the company reported a quarterly revenue increase of 17.6% from the previous period.

Insider Trading Activity

In additional news, Advanced Micro Devices had some notable insider trading activity. EVP Forrest Eugene Norrod sold 40,540 shares of company stock in a transaction on November 5th, with the shares sold at an average price of $141.67, equating to roughly $5,743,301.80 total. After this transaction, he now possesses 293,347 shares valued at around $41.56 million, representing a 12.14% decrease in his stock ownership. Furthermore, CEO Lisa T. Su sold 80,000 shares on November 6th at an average price of $143.87, totaling approximately $11,509,600. Following this trade, she retains ownership of 3,566,762 shares valued at about $513.15 million, reflecting a 2.19% reduction in her holdings. In the last three months, insiders have liquidated 197,036 shares worth $28,165,821.

About Advanced Micro Devices, Inc.

Advanced Micro Devices, Inc. operates as a globally recognized semiconductor company. The company divides its operations into several segments, including Data Center, Client, Gaming, and Embedded. Advanced Micro Devices specializes in producing x86 microprocessors, graphics processing units (GPUs), chipsets, and semi-custom system-on-chip (SoC) products, among other technological offerings.

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