Amalgamated Bank Trims Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Amalgamated Bank reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 339,802 shares of the semiconductor manufacturer’s stock after selling 1,183 shares during the quarter. Advanced Micro Devices makes up approximately 0.5% of Amalgamated Bank’s investment portfolio, making the stock its 25th largest position. Amalgamated Bank’s holdings in Advanced Micro Devices were worth $55,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Argent Trust Co increased its holdings in shares of Advanced Micro Devices by 0.9% during the 2nd quarter. Argent Trust Co now owns 15,459 shares of the semiconductor manufacturer’s stock worth $2,508,000 after buying an additional 134 shares during the last quarter. Purus Wealth Management LLC increased its stake in Advanced Micro Devices by 11.9% during the second quarter. Purus Wealth Management LLC now owns 26,600 shares of the semiconductor manufacturer’s stock worth $4,315,000 after acquiring an additional 2,835 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its position in Advanced Micro Devices by 2.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,729 shares of the semiconductor manufacturer’s stock valued at $1,092,000 after purchasing an additional 141 shares during the period. Financial & Tax Architects LLC acquired a new position in shares of Advanced Micro Devices in the 2nd quarter valued at $1,138,000. Finally, L & S Advisors Inc grew its holdings in shares of Advanced Micro Devices by 21.7% during the 2nd quarter. L & S Advisors Inc now owns 12,746 shares of the semiconductor manufacturer’s stock worth $2,068,000 after purchasing an additional 2,273 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

AMD stock opened at $150.82 on Wednesday. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30. The business has a 50 day simple moving average of $148.50 and a 200-day simple moving average of $161.13. 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 company has a market capitalization of $243.77 billion, a P/E ratio of 221.79, a PEG ratio of 2.04 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly 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. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Bank of America reduced their price target on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Cantor Fitzgerald lowered their price target on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Edward Jones began coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Insider Buying and Selling

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 shares were 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 directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.