Advanced Micro Devices, Inc. (NASDAQ:AMD) Position Reduced by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 290,416 shares of the semiconductor manufacturer’s stock after selling 24,485 shares during the quarter. Advanced Micro Devices makes up 1.4% of Prio Wealth Limited Partnership’s holdings, making the stock its 18th largest holding. Prio Wealth Limited Partnership’s holdings in Advanced Micro Devices were worth $47,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Advanced Micro Devices by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after purchasing an additional 116,020 shares in the last quarter. Chapin Davis Inc. lifted its stake in Advanced Micro Devices by 613.4% in the 1st quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock worth $2,213,000 after acquiring an additional 10,544 shares in the last quarter. Gordian Capital Singapore Pte Ltd boosted its holdings in shares of Advanced Micro Devices by 77.4% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 49,093 shares of the semiconductor manufacturer’s stock worth $7,237,000 after purchasing an additional 21,417 shares during the period. Bank of New Hampshire grew its holdings in shares of Advanced Micro Devices by 811.3% during the 1st quarter. Bank of New Hampshire now owns 8,065 shares of the semiconductor manufacturer’s stock valued at $1,456,000 after acquiring an additional 7,180 shares in the last quarter. Finally, Sycomore Asset Management grew its stake in Advanced Micro Devices by 28.6% in the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock valued at $21,722,000 after purchasing an additional 30,677 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research report 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. Wedbush reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Morgan Stanley increased their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Down 2.6 %

NASDAQ:AMD opened at $159.75 on Wednesday. The stock’s fifty day moving average price is $146.75 and its two-hundred day moving average price is $158.17. The company has a market cap of $258.21 billion, a price-to-earnings ratio of 234.93, a P/E/G ratio of 2.14 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 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 issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. On average, analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

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.