Cornerstone Advisors LLC Sells 300 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cornerstone Advisors LLC lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 63,000 shares of the semiconductor manufacturer’s stock after selling 300 shares during the period. Cornerstone Advisors LLC’s holdings in Advanced Micro Devices were worth $10,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMD. Tradewinds Capital Management LLC raised its holdings in shares of 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 purchasing an additional 71 shares in the last quarter. Morton Brown Family Wealth LLC increased its holdings in 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. Northwest Bank & Trust Co bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $28,000. Semmax Financial Advisors Inc. lifted its holdings 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 worth $28,000 after buying an additional 139 shares during the period. Finally, Valued Wealth Advisors LLC boosted its position in Advanced Micro Devices by 70.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 70 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $152.31 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The stock has a market capitalization of $246.51 billion, a price-to-earnings ratio of 223.99, a PEG ratio of 2.04 and a beta of 1.69. The firm’s 50 day simple moving average is $149.56 and its 200-day simple moving average is $161.78. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced 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. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

AMD has been the subject of several recent research reports. Citigroup boosted their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Robert W. Baird decreased their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Bank of America cut 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 research report on Wednesday, July 31st. Truist Financial decreased their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.45.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was 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 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 accessible through the SEC website. 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.