Anchor Investment Management LLC Grows Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Anchor Investment Management LLC lifted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 29.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,673 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,754 shares during the period. Anchor Investment Management LLC’s holdings in Advanced Micro Devices were worth $1,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMD. Creative Capital Management Investments LLC boosted its holdings in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC lifted its holdings in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC lifted its holdings in 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 last quarter. Fairway Wealth LLC purchased a new stake in Advanced Micro Devices during the 2nd quarter worth about $27,000. Finally, Ridgewood Investments LLC purchased a new stake in Advanced Micro Devices during the 2nd quarter worth about $35,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $130.60 on Friday. The company has a market cap of $211.94 billion, a price-to-earnings ratio of 117.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.65. 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 stock has a 50 day simple moving average of $148.24 and a 200-day simple moving average of $152.58. Advanced Micro Devices, Inc. has a 12-month low of $121.82 and a 12-month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMD. Edward Jones began coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Finally, Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $180.00 to $155.00 in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $192.36.

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 on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’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 sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is owned by insiders.

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.