ProShare Advisors LLC Cuts Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

ProShare Advisors LLC reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,916,066 shares of the semiconductor manufacturer’s stock after selling 139,978 shares during the quarter. Advanced Micro Devices accounts for approximately 0.8% of ProShare Advisors LLC’s portfolio, making the stock its 15th largest holding. ProShare Advisors LLC owned about 0.12% of Advanced Micro Devices worth $310,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tradewinds Capital Management LLC increased its stake in Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares during the period. Morton Brown Family Wealth LLC increased its stake in shares of Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares during the period. Fairway Wealth LLC bought a new stake in Advanced Micro Devices during the 2nd quarter valued at $27,000. Northwest Bank & Trust Co purchased a new stake in Advanced Micro Devices during the 4th quarter valued at $28,000. Finally, Semmax Financial Advisors Inc. grew its holdings in Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Truist Financial cut their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Susquehanna restated a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One investment 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.45.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices 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 value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Stock Down 0.5 %

AMD stock opened at $155.95 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30. The stock has a market capitalization of $252.06 billion, a P/E ratio of 229.34, a P/E/G ratio of 2.04 and a beta of 1.69. The business has a fifty day moving average price of $146.77 and a 200-day moving average price of $160.35.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share 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.