Prosperity Consulting Group LLC Trims Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Prosperity Consulting Group LLC lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 52.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,729 shares of the semiconductor manufacturer’s stock after selling 1,921 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Advanced Micro Devices were worth $280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cherrydale Wealth Management LLC raised its position in shares of Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $212,000 after acquiring an additional 58 shares in the last quarter. Prentice Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 1.6% during the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after purchasing an additional 62 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 0.9% in the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock worth $1,314,000 after buying an additional 63 shares during the last quarter. Delta Financial Group Inc. lifted its position in shares of Advanced Micro Devices by 5.0% in the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after buying an additional 63 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in shares of Advanced Micro Devices by 0.3% in the 4th quarter. Integrated Advisors Network LLC now owns 18,944 shares of the semiconductor manufacturer’s stock valued at $2,793,000 after buying an additional 65 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMD. Citigroup raised their target price on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Cantor Fitzgerald dropped their price objective on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, Barclays lowered their price target on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Trading Up 1.0 %

NASDAQ:AMD opened at $152.31 on Monday. The stock has a fifty day simple moving average of $149.56 and a 200 day simple moving average of $161.78. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $246.51 billion, a price-to-earnings ratio of 223.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30.

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

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

About Advanced Micro Devices

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.