Holderness Investments Co. Grows Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Holderness Investments Co. raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,628 shares of the semiconductor manufacturer’s stock after purchasing an additional 613 shares during the period. Holderness Investments Co.’s holdings in Advanced Micro Devices were worth $1,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Profund Advisors LLC increased its stake in shares of Advanced Micro Devices by 6.2% in the second quarter. Profund Advisors LLC now owns 264,109 shares of the semiconductor manufacturer’s stock worth $42,841,000 after purchasing an additional 15,490 shares in the last quarter. Circle Wealth Management LLC increased its stake in Advanced Micro Devices by 177.0% in the 2nd quarter. Circle Wealth Management LLC now owns 12,447 shares of the semiconductor manufacturer’s stock worth $2,019,000 after buying an additional 7,954 shares in the last quarter. Hancock Whitney Corp raised its holdings in Advanced Micro Devices by 1.6% during the second quarter. Hancock Whitney Corp now owns 50,168 shares of the semiconductor manufacturer’s stock valued at $8,138,000 after acquiring an additional 801 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Advanced Micro Devices by 89.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,068 shares of the semiconductor manufacturer’s stock valued at $336,000 after acquiring an additional 974 shares in the last quarter. Finally, Alaethes Wealth LLC boosted its stake in shares of Advanced Micro Devices by 0.5% in the second quarter. Alaethes Wealth LLC now owns 15,542 shares of the semiconductor manufacturer’s stock worth $2,521,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup lifted their target price on Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Cantor Fitzgerald lowered their target price 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. 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 note on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, Bank of America cut their price objective on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $155.95 on Friday. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $146.77 and a two-hundred day simple moving average of $160.35. The stock has a market capitalization of $252.06 billion, a price-to-earnings ratio of 229.34, a P/E/G ratio of 2.04 and a beta of 1.69.

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