NewEdge Advisors LLC Grows Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

NewEdge Advisors LLC boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,107 shares of the semiconductor manufacturer’s stock after purchasing an additional 18,644 shares during the quarter. NewEdge Advisors LLC’s holdings in Advanced Micro Devices were worth $30,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Precision Wealth Strategies LLC increased its holdings in Advanced Micro Devices by 4.0% in the fourth quarter. Precision Wealth Strategies LLC now owns 4,060 shares of the semiconductor manufacturer’s stock valued at $598,000 after buying an additional 155 shares during the last quarter. Concentrum Wealth Management raised its position in shares of Advanced Micro Devices by 6.6% during the 4th quarter. Concentrum Wealth Management now owns 38,157 shares of the semiconductor manufacturer’s stock worth $5,625,000 after acquiring an additional 2,354 shares in the last quarter. 9258 Wealth Management LLC lifted its stake in Advanced Micro Devices by 70.4% during the fourth quarter. 9258 Wealth Management LLC now owns 12,122 shares of the semiconductor manufacturer’s stock worth $1,787,000 after purchasing an additional 5,009 shares during the last quarter. Evoke Wealth LLC boosted its holdings in Advanced Micro Devices by 17.5% in the fourth quarter. Evoke Wealth LLC now owns 3,438 shares of the semiconductor manufacturer’s stock valued at $507,000 after purchasing an additional 513 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Advanced Micro Devices by 28.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 11,563 shares of the semiconductor manufacturer’s stock valued at $1,705,000 after purchasing an additional 2,583 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 1.9 %

NASDAQ:AMD opened at $164.35 on Friday. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. 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 fifty day moving average price of $146.47 and a two-hundred day moving average price of $158.80. The stock has a market capitalization of $265.64 billion, a price-to-earnings ratio of 241.69, a PEG ratio of 2.14 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion during 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 business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMD. Barclays lowered their target price on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, July 29th. Edward Jones began coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Truist Financial cut their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $193.45.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,756 shares of the company’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 value of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.