Sheets Smith Wealth Management Invests $331,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sheets Smith Wealth Management purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,019 shares of the semiconductor manufacturer’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AMD. Vanguard Group Inc. grew its position in Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after buying an additional 2,349,288 shares during the period. Legal & General Group Plc grew its position in shares of Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after acquiring an additional 188,580 shares during the period. Van ECK Associates Corp grew its position in shares of Advanced Micro Devices by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after acquiring an additional 975,220 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Finally, GQG Partners LLC lifted its stake in Advanced Micro Devices by 5.0% in the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock valued at $1,451,945,000 after purchasing an additional 382,582 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMD. Bank of America restated a “buy” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $147.95 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $154.44 and a 200-day moving average price of $155.54. The company has a market cap of $240.09 billion, a price-to-earnings ratio of 133.29, a price-to-earnings-growth ratio of 2.01 and a beta of 1.71. Advanced Micro Devices, Inc. has a 12 month low of $113.06 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the business posted $0.53 EPS. The business’s revenue was up 17.6% on a year-over-year basis. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices 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.