Skandinaviska Enskilda Banken AB Publ Reduces Stake in Advanced Micro Devices, Inc.

Skandinaviska Enskilda Banken AB publ has announced a reduction in its shareholding of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 40.3% during the fourth quarter. This information was disclosed in the bank's latest filing with the Securities and Exchange Commission. Following this sale, the bank now holds 670,372 shares of the semiconductor company, having sold 452,148 shares during the quarter. At the conclusion of this reporting period, the value of Skandinaviska Enskilda Banken AB publ's holdings in Advanced Micro Devices was approximately $82,080,000.

Other institutional investors have also adjusted their positions in Advanced Micro Devices recently. Bedell Frazier Investment Counselling LLC increased its stake by 4.3% in the third quarter, bringing their total to 1,780 shares valued at $292,000 after acquiring an additional 74 shares. Meanwhile, NCM Capital Management LLC raised its position by 0.9%, ending up with 8,654 shares valued at $1,420,000 after purchasing 75 additional shares. Pin Oak Investment Advisors Inc. boosted its stake by 15.2%, now owning 575 shares worth $94,000 following an acquisition of 76 shares. Bank of Marin reported a 1.3% increase in its holdings, giving it a total of 6,007 shares valued at $986,000 after buying 80 shares. Lastly, Northeast Financial Consultants Inc increased its stake by 2.9% to own 2,920 shares valued at $479,000 after adding 81 shares during the period. Currently, institutional investors account for 71.34% of the ownership of Advanced Micro Devices stock.

Advanced Micro Devices Stock Performance

On Thursday, NASDAQ AMD opened at $100.79. The company's 50-day and 200-day simple moving averages stand at $112.99 and $133.94, respectively. Advanced Micro Devices saw its stock reach a one-year low of $94.73 and a high of $198.83. With a market capitalization of $163.33 billion, the company has a price-to-earnings ratio of 101.81 and a price-to-earnings-growth ratio of 1.11, accompanied by a beta of 1.74, indicating market volatility. Additionally, the company has a low debt-to-equity ratio of 0.03, a quick ratio of 1.83, and a current ratio of 2.62.

Recently, Advanced Micro Devices reported its quarterly earnings on February 4th, with earnings per share (EPS) hitting $1.07, matching analyst expectations. For the current fiscal year, analysts predict a total EPS of 3.87.

Recent Analyst Changes

Several equity research analysts have provided updates regarding Advanced Micro Devices. Bank of America downgraded their price target from $155.00 to $135.00, maintaining a "neutral" rating. HSBC Global Research downgraded the stock from a "strong-buy" to a "moderate sell" rating. Loop Capital initiated coverage on the stock with a "buy" rating and a $175.00 target. KeyCorp lowered their target from $150.00 to $140.00 while keeping an "overweight" rating. Mizuho also decreased their target price from $160.00 to $140.00, designating an "outperform" rating. Currently, two analysts have rated the stock as a sell, nine as a hold, nineteen as a buy, and three as a strong buy. According to MarketBeat, the average rating for the stock is "Moderate Buy" with an average price target set at $155.83.

Insider Transactions

In other news, Philip Guido, an executive vice president, purchased 4,645 shares of Advanced Micro Devices on February 7th at an average price of $107.56 per share, totaling $499,616.20. This move increased his position by 16.09%, and he now directly owns 33,522 shares valued at around $3,605,626.32. Company insiders currently hold 0.73% of the stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc. is a global semiconductor company that operates in the Data Center, Client, Gaming, and Embedded segments. The company provides x86 microprocessors, graphics processing units (GPUs), chipsets, and other related technologies and products.

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