Concorde Asset Management LLC Sells 530 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Concorde Asset Management LLC cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.6% in the second quarter, HoldingsChannel.com reports. The firm owned 3,101 shares of the semiconductor manufacturer’s stock after selling 530 shares during the period. Concorde Asset Management LLC’s holdings in Advanced Micro Devices were worth $503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WCG Wealth Advisors LLC increased its position in Advanced Micro Devices by 19.3% during the 2nd quarter. WCG Wealth Advisors LLC now owns 28,301 shares of the semiconductor manufacturer’s stock valued at $4,591,000 after buying an additional 4,587 shares in the last quarter. MRP Capital Investments LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter worth about $81,000. SkyOak Wealth LLC increased its holdings in shares of Advanced Micro Devices by 68.9% during the second quarter. SkyOak Wealth LLC now owns 3,137 shares of the semiconductor manufacturer’s stock valued at $509,000 after acquiring an additional 1,280 shares in the last quarter. Highlander Partners L.P. raised its position in shares of Advanced Micro Devices by 26.3% in the 2nd quarter. Highlander Partners L.P. now owns 36,000 shares of the semiconductor manufacturer’s stock valued at $5,840,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Waterloo Capital L.P. raised its position in shares of Advanced Micro Devices by 19.2% in the 2nd quarter. Waterloo Capital L.P. now owns 12,032 shares of the semiconductor manufacturer’s stock valued at $1,952,000 after purchasing an additional 1,938 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $148.29 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The stock has a market capitalization of $239.68 billion, a PE ratio of 218.07, a P/E/G ratio of 2.04 and a beta of 1.69. Advanced Micro Devices, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30. The company has a fifty day moving average of $147.79 and a two-hundred day moving average of $161.04.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly 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. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMD shares. Bank of America cut their price target on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. KeyCorp reduced their target price on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Edward Jones initiated coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. Finally, Susquehanna reaffirmed a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices 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.