Advanced Micro Devices, Inc. (NASDAQ:AMD) Position Raised by Independent Advisor Alliance

Independent Advisor Alliance grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 300,931 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,606 shares during the period. Advanced Micro Devices makes up approximately 1.7% of Independent Advisor Alliance’s holdings, making the stock its 8th largest position. Independent Advisor Alliance’s holdings in Advanced Micro Devices were worth $48,814,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Tradewinds Capital Management LLC grew its position in Advanced Micro Devices by 102.9% during 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. Semmax Financial Advisors Inc. lifted its stake 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 buying an additional 139 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $27,000. Valued Wealth Advisors LLC increased its position in shares of Advanced Micro Devices by 70.7% during the first quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 70 shares in the last quarter. Finally, Morton Brown Family Wealth LLC raised its holdings in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMD shares. Edward Jones assumed coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating for the company. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Barclays lowered their target price on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. Truist Financial reduced their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup increased their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Stock Down 1.7 %

AMD opened at $148.29 on Thursday. The stock has a market cap of $239.68 billion, a price-to-earnings ratio of 218.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The firm’s fifty day moving average is $147.79 and its 200 day moving average is $161.04. Advanced Micro Devices, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.73% of the stock is owned by insiders.

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.