Elite Wealth Management Inc. Sells 49,091 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Elite Wealth Management Inc. decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 77.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,323 shares of the semiconductor manufacturer’s stock after selling 49,091 shares during the period. Advanced Micro Devices makes up 0.1% of Elite Wealth Management Inc.’s holdings, making the stock its 21st biggest holding. Elite Wealth Management Inc.’s holdings in Advanced Micro Devices were worth $2,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMD. Vanguard Group Inc. grew its stake 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 valued at $26,133,989,000 after purchasing an additional 2,349,288 shares during the period. Fisher Asset Management LLC increased its position in shares of Advanced Micro Devices by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 28,338,223 shares of the semiconductor manufacturer’s stock worth $4,177,338,000 after purchasing an additional 570,035 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Advanced Micro Devices by 10.2% in the 4th 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 during the last quarter. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 478,718 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of 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 worth $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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Edward Jones started coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Truist Financial decreased their target price 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. Robert W. Baird cut their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald lowered their price target on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.45.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.73% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $156.74 on Friday. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30. The business’s 50 day moving average price is $147.28 and its two-hundred day moving average price is $161.01. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The company has a market cap of $253.34 billion, a PE ratio of 230.50, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69.

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

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.