Envestnet Asset Management Inc. Sells 7,889 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Envestnet Asset Management Inc. lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 938,037 shares of the semiconductor manufacturer’s stock after selling 7,889 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Advanced Micro Devices worth $152,159,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Wrapmanager Inc. raised its position in shares of Advanced Micro Devices by 12.1% in the 2nd quarter. Wrapmanager Inc. now owns 5,023 shares of the semiconductor manufacturer’s stock worth $815,000 after purchasing an additional 541 shares during the last quarter. Allen Investment Management LLC raised its position in Advanced Micro Devices by 1,934.4% in the 2nd quarter. Allen Investment Management LLC now owns 38,246 shares of the semiconductor manufacturer’s stock worth $6,204,000 after buying an additional 36,366 shares during the last quarter. Wealthspire Advisors LLC raised its position in Advanced Micro Devices by 8.2% in the 2nd quarter. Wealthspire Advisors LLC now owns 11,863 shares of the semiconductor manufacturer’s stock worth $1,924,000 after buying an additional 901 shares during the last quarter. William Blair Investment Management LLC raised its position in Advanced Micro Devices by 33.6% in the 2nd quarter. William Blair Investment Management LLC now owns 1,874,029 shares of the semiconductor manufacturer’s stock worth $303,986,000 after buying an additional 471,620 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in Advanced Micro Devices by 44.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 29,632 shares of the semiconductor manufacturer’s stock worth $4,806,000 after buying an additional 9,048 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 1.0 %

Shares of AMD opened at $152.31 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. Advanced Micro Devices, Inc. has a one year low of $93.11 and a one year high of $227.30. The stock has a market capitalization of $246.51 billion, a price-to-earnings ratio of 223.99, a PEG ratio of 2.04 and a beta of 1.69. The stock has a 50 day moving average price of $149.56 and a 200 day moving average price of $161.78.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their target price on Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Bank of America decreased their target price on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald decreased their target price on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Barclays cut their price target on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.45.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

Advanced Micro Devices Company 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.