Cornerstone Wealth Management LLC Grows Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cornerstone Wealth Management LLC raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,081 shares of the semiconductor manufacturer’s stock after acquiring an additional 854 shares during the period. Cornerstone Wealth Management LLC’s holdings in Advanced Micro Devices were worth $1,098,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMD. Kovack Advisors Inc. boosted its holdings in shares of Advanced Micro Devices by 45.7% in the first quarter. Kovack Advisors Inc. now owns 26,628 shares of the semiconductor manufacturer’s stock valued at $4,806,000 after acquiring an additional 8,357 shares in the last quarter. DMC Group LLC boosted its holdings in Advanced Micro Devices by 8.4% in the 1st quarter. DMC Group LLC now owns 12,610 shares of the semiconductor manufacturer’s stock valued at $2,276,000 after purchasing an additional 974 shares in the last quarter. Madrona Financial Services LLC acquired a new position in Advanced Micro Devices during the 1st quarter worth approximately $233,000. Norden Group LLC raised its stake in shares of Advanced Micro Devices by 1,888.2% during the 1st quarter. Norden Group LLC now owns 81,060 shares of the semiconductor manufacturer’s stock worth $14,631,000 after buying an additional 76,983 shares in the last quarter. Finally, Community Bank & Trust Waco Texas lifted its holdings in shares of Advanced Micro Devices by 61.2% in the 1st quarter. Community Bank & Trust Waco Texas now owns 11,494 shares of the semiconductor manufacturer’s stock valued at $2,075,000 after buying an additional 4,364 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Down 0.2 %

Shares of Advanced Micro Devices stock opened at $163.90 on Friday. The firm has a market cap of $264.91 billion, a PE ratio of 241.03, a P/E/G ratio of 1.90 and a beta of 1.68. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30. The business’s fifty day moving average is $159.99 and its two-hundred day moving average is $165.53.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. Analysts anticipate that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial dropped their price objective on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Susquehanna upped their price target on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Piper Sandler reiterated an “overweight” rating and issued a $175.00 price objective (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Mizuho lowered their target price on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Evercore ISI reduced their price target on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.83.

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.