Chevy Chase Trust Reduces Stake in Advanced Micro Devices, Inc.

Chevy Chase Trust Holdings LLC has reduced its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.9% during the fourth quarter, as indicated by its latest 13F filing with the Securities and Exchange Commission. After selling 16,545 shares during this period, the institutional investor now owns 852,769 shares of the semiconductor company. This stake means that Chevy Chase Trust Holdings LLC holds approximately 0.05% of Advanced Micro Devices, valued at $103,006,000 based on the recent filing.

In addition to Chevy Chase Trust, several other hedge funds have also adjusted their positions in AMD shares. International Assets Investment Management LLC substantially increased its stake by 17,137.3% in the third quarter, acquiring an additional 7,815,305 shares to reach a total of 7,860,909 shares worth approximately $1,289,818,000. Meanwhile, Assenagon Asset Management S.A. expanded its holdings by 42.2% during the same quarter, now owning 8,420,766 shares valued at $1,381,679,000 after a purchase of 2,497,056 shares.

Furthermore, Van ECK Associates Corp increased its position by 23.3% in the fourth quarter, with 11,859,744 shares worth around $1,432,538,000, following a purchase of an additional 2,238,866 shares. State Street Corp also grew its stake by 2.3% during the third quarter, ending with 70,170,271 shares valued at $11,513,538,000 after acquiring 1,580,035 extra shares. UBS AM, a unit of UBS Asset Management, increased its holdings by 8.7% during the third quarter, owning 19,472,211 shares now worth about $3,195,000,000 after purchasing 1,565,083 shares. Currently, 71.34% of Advanced Micro Devices stock is held by hedge funds and institutional investors.

Analyst Ratings Updates

Advanced Micro Devices has recently been the focus of several analyst reports. On February 5th, Wedbush reaffirmed an "outperform" rating for AMD and set a price target of $150.00. HSBC Global Research, however, downgraded the stock from a "strong buy" to a "moderate sell" on January 8th. Cantor Fitzgerald retained an "overweight" rating and established a target price of $180.00 on October 30th. In contrast, Melius Research lowered their target from $160.00 to $129.00 while maintaining a "hold" rating on January 28th. Additionally, Susquehanna reduced their price target from $165.00 to $150.00, supporting a "positive" rating for the stock on February 5th. Overall, two analysts have assigned a sell rating, ten have given it a hold rating, eighteen have assigned a buy rating, and three have issued a strong buy rating, leading to an average rating of "Moderate Buy" and a consensus price target of $158.70 according to MarketBeat.com.

Insider Activities

In related updates, CEO Lisa T. Su sold 76,496 shares on December 4th at an average price of $142.66, netting $10,912,919.36 from the transaction. After the sale, she retains ownership of 3,566,762 shares valued at approximately $508,834,267, reflecting a 2.10% decrease in her hold. The transaction details have been filed with the SEC. On the other hand, EVP Philip Guido purchased 4,645 shares on February 7th at an average price of $107.56 per share, amounting to $499,616.20. This acquisition raised his total to 33,522 shares worth around $3,605,626.32, marking a 16.09% increase in ownership. Corporate insiders currently hold 0.73% of the company's stock.

Stock Performance Overview

On Friday, AMD shares opened at $111.81, with a market capitalization of $181.19 billion. The stock carries a P/E ratio of 112.94, a P/E/G ratio of 1.04, and has a beta of 1.65. The company reported a debt-to-equity ratio of 0.03 along with a current ratio of 2.62 and a quick ratio of 1.78. The stock has fluctuated between a one-year low of $106.50 and a high of $227.30. The company's 50-day moving average stands at $121.53, while the 200-day moving average is $139.12.

Advanced Micro Devices last released its quarterly earnings on February 4th. The company reported earnings of $1.07 per share, matching analysts' expectations. AMD achieved a net margin of 6.36% and a return on equity of 7.42%. Analysts predict that AMD will deliver earnings of $4.11 per share for the current year.

About Advanced Micro Devices

Advanced Micro Devices, Inc. functions as a global semiconductor company, operating through four segments: Data Center, Client, Gaming, and Embedded. Its product range includes x86 microprocessors, graphics processing units (GPUs), chipsets, and semi-custom system-on-chip (SoC) products, along with embedded processors and development services.

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