Nwam LLC Takes $6.53 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Nwam LLC purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the third quarter, Holdings Channel.com reports. The firm purchased 39,806 shares of the semiconductor manufacturer’s stock, valued at approximately $6,531,000.

Several other hedge funds have also recently made changes to their positions in the stock. Meridian Wealth Management LLC purchased a new position in shares of Advanced Micro Devices in the 3rd quarter worth $16,432,000. Covenant Asset Management LLC lifted its holdings in Advanced Micro Devices by 22.3% in the third quarter. Covenant Asset Management LLC now owns 56,477 shares of the semiconductor manufacturer’s stock valued at $9,267,000 after acquiring an additional 10,313 shares during the period. Allen Capital Group LLC grew its stake in shares of Advanced Micro Devices by 36.0% during the 3rd quarter. Allen Capital Group LLC now owns 2,478 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 656 shares during the period. Raymond James Trust N.A. increased its position in shares of Advanced Micro Devices by 2.4% during the 3rd quarter. Raymond James Trust N.A. now owns 40,596 shares of the semiconductor manufacturer’s stock valued at $6,661,000 after purchasing an additional 954 shares during the last quarter. Finally, AlphaCore Capital LLC lifted its stake in shares of Advanced Micro Devices by 18.0% in the 3rd quarter. AlphaCore Capital LLC now owns 4,657 shares of the semiconductor manufacturer’s stock worth $764,000 after purchasing an additional 712 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $138.34 on Friday. The firm has a fifty day simple moving average of $153.95 and a two-hundred day simple moving average of $154.70. 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 stock has a market capitalization of $224.50 billion, a P/E ratio of 123.61, a PEG ratio of 1.93 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS 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 company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. On average, analysts expect that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Benchmark restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Edward Jones assumed coverage on shares of Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating for the company. Morgan Stanley decreased their target price on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird cut their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, TD Cowen decreased their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

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.