Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by Cornerstone Advisory LLC

Cornerstone Advisory LLC grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) by 49.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,996 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,986 shares during the quarter. Cornerstone Advisory LLC’s holdings in Advanced Micro Devices were worth $984,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Quilter Plc boosted its holdings in shares of Advanced Micro Devices by 8.0% in the first quarter. Quilter Plc now owns 1,028,566 shares of the semiconductor manufacturer’s stock valued at $112,463,000 after acquiring an additional 76,252 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Advanced Micro Devices by 91.7% during the first quarter. EP Wealth Advisors LLC now owns 40,237 shares of the semiconductor manufacturer’s stock worth $4,400,000 after purchasing an additional 19,243 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Advanced Micro Devices by 52.8% during the first quarter. The Manufacturers Life Insurance Company now owns 1,429,940 shares of the semiconductor manufacturer’s stock worth $158,559,000 after purchasing an additional 494,294 shares during the last quarter. Toroso Investments LLC raised its stake in shares of Advanced Micro Devices by 15.2% during the first quarter. Toroso Investments LLC now owns 260,195 shares of the semiconductor manufacturer’s stock worth $28,450,000 after purchasing an additional 34,243 shares during the last quarter. Finally, Van Hulzen Asset Management LLC raised its position in Advanced Micro Devices by 3.6% in the first quarter. Van Hulzen Asset Management LLC now owns 8,818 shares of the semiconductor manufacturer’s stock worth $964,000 after acquiring an additional 309 shares in the last quarter. 65.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMD. Barclays cut their price objective on Advanced Micro Devices from $115.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Raymond James cut their price objective on Advanced Micro Devices from $160.00 to $130.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 3rd. KeyCorp cut their price objective on Advanced Micro Devices from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Mizuho dropped their price target on Advanced Micro Devices from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, Cowen dropped their price target on Advanced Micro Devices from $160.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $125.80.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $77.45 on Thursday. The firm has a market capitalization of $125.03 billion, a P/E ratio of 32.54, a P/E/G ratio of 0.79 and a beta of 1.97. Advanced Micro Devices, Inc. has a 1-year low of $71.60 and a 1-year high of $164.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.44 and a quick ratio of 1.96. The business’s 50-day simple moving average is $89.14 and its 200-day simple moving average is $95.02.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The semiconductor manufacturer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.03). The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.52 billion. Advanced Micro Devices had a net margin of 14.51% and a return on equity of 15.17%. During the same period in the prior year, the firm earned $0.58 earnings per share. Equities analysts predict that Advanced Micro Devices, Inc. will post 3.89 EPS for the current year.

Insider Activity

In other news, SVP Forrest Eugene Norrod sold 824 shares of Advanced Micro Devices stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $99.31, for a total value of $81,831.44. Following the transaction, the senior vice president now directly owns 276,816 shares of the company’s stock, valued at approximately $27,490,596.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rick Bergman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $92.39, for a total transaction of $277,170.00. Following the sale, the executive vice president now directly owns 161,232 shares in the company, valued at approximately $14,896,224.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Forrest Eugene Norrod sold 824 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $99.31, for a total value of $81,831.44. Following the sale, the senior vice president now owns 276,816 shares in the company, valued at $27,490,596.96. The disclosure for this sale can be found here. Insiders have sold 161,518 shares of company stock valued at $15,378,613 in the last three months. Corporate insiders own 1.00% of the company’s stock.

About Advanced Micro Devices

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Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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