Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Sycomore Asset Management

Sycomore Asset Management lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 28.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 137,883 shares of the semiconductor manufacturer’s stock after purchasing an additional 30,677 shares during the quarter. Advanced Micro Devices comprises about 3.8% of Sycomore Asset Management’s holdings, making the stock its 5th biggest holding. Sycomore Asset Management’s holdings in Advanced Micro Devices were worth $21,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new stake in Advanced Micro Devices during the 2nd quarter worth approximately $730,000. KPP Advisory Services LLC boosted its position in Advanced Micro Devices by 12.2% in the 2nd quarter. KPP Advisory Services LLC now owns 6,392 shares of the semiconductor manufacturer’s stock valued at $1,037,000 after buying an additional 695 shares during the period. New Century Financial Group LLC acquired a new position in shares of Advanced Micro Devices in the second quarter worth $246,000. Wealthquest Corp purchased a new stake in shares of Advanced Micro Devices during the second quarter worth $202,000. Finally, Founders Financial Alliance LLC raised its stake in shares of Advanced Micro Devices by 2.2% in the second quarter. Founders Financial Alliance LLC now owns 9,184 shares of the semiconductor manufacturer’s stock valued at $1,490,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In other Advanced Micro Devices 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 transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Stock Down 0.2 %

AMD stock opened at $164.08 on Tuesday. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The company has a market cap of $265.20 billion, a price-to-earnings ratio of 241.29, a price-to-earnings-growth ratio of 2.14 and a beta of 1.69. The company has a fifty day moving average price of $146.63 and a 200 day moving average price of $158.39.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMD shares. Bank of America lowered their target price on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Barclays decreased their price target on shares of 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. Citigroup increased their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Edward Jones initiated coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.45.

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.