Kayne Anderson Rudnick Investment Management LLC Acquires 974 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 89.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the semiconductor manufacturer’s stock after buying an additional 974 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Advanced Micro Devices were worth $336,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tradewinds Capital Management LLC lifted its stake in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares during the period. Semmax Financial Advisors Inc. lifted 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 buying an additional 139 shares during the period. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the second quarter valued at about $27,000. Valued Wealth Advisors LLC boosted its holdings in Advanced Micro Devices by 70.7% during the first quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 70 shares during the last quarter. Finally, Morton Brown Family Wealth LLC grew its position 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 buying an additional 85 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMD has been the topic of several recent analyst reports. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Edward Jones started coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Wedbush reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Bank of America lowered their price target on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $156.75 on Tuesday. The firm has a market capitalization of $253.36 billion, a P/E ratio of 230.51, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. 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’s fifty day moving average price is $146.31 and its two-hundred day moving average price is $159.61. 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 issued its 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 company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. As a group, research analysts anticipate 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.