Concorde Asset Management LLC Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Concorde Asset Management LLC trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,101 shares of the semiconductor manufacturer’s stock after selling 530 shares during the period. Concorde Asset Management LLC’s holdings in Advanced Micro Devices were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Advanced Micro Devices by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 28,338,223 shares of the semiconductor manufacturer’s stock valued at $4,177,338,000 after buying an additional 570,035 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after buying an additional 2,553,392 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Advanced Micro Devices by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 19,218,241 shares of the semiconductor manufacturer’s stock worth $2,832,961,000 after acquiring an additional 478,718 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AMD shares. Morgan Stanley increased their price objective on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Edward Jones began coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating for the company. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. TD Cowen upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Monday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus target price of $193.45.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $148.29 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. 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 firm has a 50-day moving average of $147.79 and a two-hundred day moving average of $161.04. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30.

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

Advanced Micro Devices 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.