Kayne Anderson Rudnick Investment Management LLC Purchases 974 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Kayne Anderson Rudnick Investment Management LLC boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 89.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the semiconductor manufacturer’s stock after acquiring an additional 974 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Advanced Micro Devices were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC increased its stake in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares during the last quarter. Morton Brown Family Wealth LLC boosted its stake in Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares in the last quarter. Fairway Wealth LLC bought a new position in Advanced Micro Devices in the second quarter valued at about $27,000. Northwest Bank & Trust Co acquired a new position in Advanced Micro Devices during the fourth quarter worth about $28,000. Finally, Semmax Financial Advisors Inc. lifted its holdings in shares of Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 139 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction dated 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 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 SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of AMD opened at $156.75 on Tuesday. The firm has a market cap of $253.36 billion, a PE ratio of 230.51, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30. The business’s 50 day moving average price is $146.31 and its two-hundred day moving average price is $159.61. 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 (NASDAQ:AMD) last released its 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 company 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%. Advanced Micro Devices’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

AMD has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, Rosenblatt Securities reissued 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $193.45.

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.