1832 Asset Management L.P. Has $1.30 Million Holdings in Advanced Micro Devices, Inc. $AMD

1832 Asset Management L.P. lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 38.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,139 shares of the semiconductor manufacturer’s stock after selling 5,750 shares during the quarter. 1832 Asset Management L.P.’s holdings in Advanced Micro Devices were worth $1,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Advisory LLC raised its position in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Cornerstone Advisory LLC now owns 4,271 shares of the semiconductor manufacturer’s stock valued at $606,000 after acquiring an additional 57 shares during the period. King Wealth Management Group grew its holdings in Advanced Micro Devices by 2.1% during the second quarter. King Wealth Management Group now owns 3,017 shares of the semiconductor manufacturer’s stock valued at $428,000 after purchasing an additional 62 shares during the period. Tortoise Investment Management LLC increased its stake in Advanced Micro Devices by 14.8% in the second quarter. Tortoise Investment Management LLC now owns 503 shares of the semiconductor manufacturer’s stock valued at $71,000 after purchasing an additional 65 shares in the last quarter. Tritonpoint Wealth LLC raised its holdings in Advanced Micro Devices by 2.6% in the second quarter. Tritonpoint Wealth LLC now owns 2,857 shares of the semiconductor manufacturer’s stock worth $405,000 after purchasing an additional 72 shares during the period. Finally, Avion Wealth raised its holdings in Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 72 shares during the period. Institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,108 shares of Advanced Micro Devices stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $240.12, for a total value of $4,107,972.96. Following the sale, the executive vice president owned 1,714,505 shares of the company’s stock, valued at approximately $411,686,940.60. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ava Hahn sold 2,868 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $226.01, for a total value of $648,196.68. Following the sale, the senior vice president owned 9,033 shares in the company, valued at $2,041,548.33. The trade was a 24.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,676 shares of company stock valued at $16,124,589 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Raymond James Financial assumed coverage on shares of Advanced Micro Devices in a research report on Thursday, November 20th. They issued an “outperform” rating and a $377.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $235.00 target price on Advanced Micro Devices and gave the company a “hold” rating in a research note on Tuesday, October 14th. Stifel Nicolaus increased their price target on Advanced Micro Devices from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wedbush reaffirmed an “outperform” rating and set a $290.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Finally, DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.54.

Advanced Micro Devices Trading Up 0.9%

NASDAQ:AMD opened at $217.97 on Friday. The company has a market cap of $354.86 billion, a P/E ratio of 107.91, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $267.08. The business has a 50 day moving average price of $225.61 and a two-hundred day moving average price of $175.80. The company has a quick ratio of 1.68, a current ratio of 2.31 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The business had revenue of $9.25 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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.