Cornerstone Advisors LLC Acquires 7,400 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cornerstone Advisors LLC lifted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 70,400 shares of the semiconductor manufacturer’s stock after buying an additional 7,400 shares during the period. Cornerstone Advisors LLC’s holdings in Advanced Micro Devices were worth $11,551,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Semmax Financial Advisors Inc. increased its position in Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 139 shares during the last quarter. Creative Capital Management Investments LLC grew its holdings in Advanced Micro Devices by 124.6% during the 3rd 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 last quarter. ZRC Wealth Management LLC raised its position in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the period. Fairway Wealth LLC bought a new stake in Advanced Micro Devices in the second quarter worth about $27,000. Finally, Morton Brown Family Wealth LLC boosted its position in shares of Advanced Micro Devices by 94.4% during the second 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 period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird decreased their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. UBS Group lowered their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Bank of America reaffirmed a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. One equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $192.79.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Advanced Micro Devices Trading Down 1.3 %

NASDAQ:AMD opened at $137.60 on Thursday. The stock has a market capitalization of $223.30 billion, a price-to-earnings ratio of 123.96, a PEG ratio of 1.87 and a beta of 1.71. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $154.22 and a 200 day moving average of $154.82.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting 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 firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 earnings per share 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.