Morse Asset Management Inc Trims Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Morse Asset Management Inc decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 28.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,639 shares of the semiconductor manufacturer’s stock after selling 11,597 shares during the period. Advanced Micro Devices accounts for 1.2% of Morse Asset Management Inc’s investment portfolio, making the stock its 27th biggest position. Morse Asset Management Inc’s holdings in Advanced Micro Devices were worth $4,808,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in AMD. Tradewinds Capital Management LLC lifted its stake in shares of Advanced Micro Devices by 102.9% during the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 71 shares during the period. Morton Brown Family Wealth LLC lifted its stake in shares of Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter worth $27,000. Northwest Bank & Trust Co purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $28,000. Finally, Semmax Financial Advisors Inc. increased its stake in Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 139 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMD shares. Citigroup upped 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 note on Monday, July 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Barclays lowered their price objective on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. KeyCorp dropped their price objective on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Stock Down 0.5 %

Shares of NASDAQ:AMD opened at $155.95 on Monday. Advanced Micro Devices, Inc. has a 12-month low of $93.11 and a 12-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 firm has a market cap of $252.06 billion, a PE ratio of 229.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. The company has a fifty day simple moving average of $146.77 and a 200 day simple moving average of $160.00.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company earned $0.40 earnings per share. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s 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 sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Company 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.