Bridges Investment Management Inc. Acquires 833 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bridges Investment Management Inc. raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 66.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,096 shares of the semiconductor manufacturer’s stock after acquiring an additional 833 shares during the quarter. Bridges Investment Management Inc.’s holdings in Advanced Micro Devices were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of AMD. Callan Capital LLC grew its position in shares of Advanced Micro Devices by 9.7% during the 2nd quarter. Callan Capital LLC now owns 3,662 shares of the semiconductor manufacturer’s stock worth $594,000 after buying an additional 325 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Advanced Micro Devices by 14.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,558,370 shares of the semiconductor manufacturer’s stock worth $577,203,000 after buying an additional 447,341 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Advanced Micro Devices by 7.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 34,780 shares of the semiconductor manufacturer’s stock worth $5,642,000 after buying an additional 2,461 shares in the last quarter. GM Advisory Group LLC boosted its position in Advanced Micro Devices by 6.3% during the second quarter. GM Advisory Group LLC now owns 18,255 shares of the semiconductor manufacturer’s stock valued at $2,961,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in Advanced Micro Devices by 10.8% during the second quarter. Ieq Capital LLC now owns 96,038 shares of the semiconductor manufacturer’s stock valued at $15,578,000 after purchasing an additional 9,363 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices 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 directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMD shares. Bank of America dropped their price objective on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Citigroup increased their price target 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. Edward Jones began coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating for the company. Finally, Truist Financial decreased their price target on 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.45.

Advanced Micro Devices Stock Down 0.5 %

Shares of AMD opened at $155.95 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The stock’s 50 day moving average is $146.77 and its two-hundred day moving average is $160.35. The firm has a market cap of $252.06 billion, a P/E ratio of 229.34, a PEG ratio of 2.04 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the company earned $0.40 earnings per share. Advanced Micro Devices’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts predict 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.