Commonwealth Equity Services LLC Lowers Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Commonwealth Equity Services LLC cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 665,798 shares of the semiconductor manufacturer’s stock after selling 45,970 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Advanced Micro Devices were worth $109,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Advanced Micro Devices by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after acquiring an additional 116,020 shares in the last quarter. Chapin Davis Inc. grew its position in Advanced Micro Devices by 613.4% during the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after buying an additional 10,544 shares during the period. Wesbanco Bank Inc. increased its holdings in Advanced Micro Devices by 15.7% during the third quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock worth $25,524,000 after buying an additional 21,132 shares during the last quarter. St. Louis Financial Planners Asset Management LLC purchased a new stake in Advanced Micro Devices during the third quarter worth about $2,394,000. Finally, Sycomore Asset Management raised its position in Advanced Micro Devices by 28.6% in the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock worth $21,722,000 after acquiring an additional 30,677 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ AMD traded down $0.28 on Friday, reaching $155.97. 23,822,985 shares of the company’s stock traded hands, compared to its average volume of 57,453,762. The stock has a market cap of $252.10 billion, a PE ratio of 229.37, a P/E/G ratio of 2.33 and a beta of 1.70. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The stock has a 50-day simple moving average of $153.86 and a 200 day simple moving average of $156.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. The company 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 firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 EPS. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMD. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Bank of America reiterated a “buy” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Finally, Piper Sandler increased their target price on Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.00.

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.