Manchester Global Management UK Ltd Cuts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Manchester Global Management UK Ltd lowered its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,896 shares of the semiconductor manufacturer’s stock after selling 15,500 shares during the quarter. Advanced Micro Devices comprises about 4.9% of Manchester Global Management UK Ltd’s investment portfolio, making the stock its 8th biggest position. Manchester Global Management UK Ltd’s holdings in Advanced Micro Devices were worth $28,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tradewinds Capital Management LLC grew 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 valued at $25,000 after buying an additional 71 shares during the last quarter. Morton Brown Family Wealth LLC grew its stake in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares during the last quarter. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the 2nd quarter valued at $27,000. Northwest Bank & Trust Co acquired a new position in Advanced Micro Devices in the 4th quarter valued at $28,000. Finally, Semmax Financial Advisors Inc. grew its stake 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 valued at $28,000 after buying an additional 139 shares during 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 the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup boosted their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Bank of America dropped their price objective on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Edward Jones began coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. Finally, Wedbush restated an “outperform” rating and set 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 issued a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $156.75 on Tuesday. The firm has a market cap of $253.36 billion, a PE ratio of 230.51, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $146.31 and its two-hundred day moving average price is $159.61.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the business earned $0.40 earnings per share. Advanced Micro Devices’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

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.