Providence Capital Advisors LLC Grows Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Providence Capital Advisors LLC lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 22,099 shares of the semiconductor manufacturer’s stock after acquiring an additional 154 shares during the quarter. Providence Capital Advisors LLC’s holdings in Advanced Micro Devices were worth $3,626,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Fisher Asset Management LLC boosted its holdings in Advanced Micro Devices by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after acquiring an additional 644,039 shares during the period. Legal & General Group Plc boosted its holdings in Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after acquiring an additional 188,580 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after acquiring an additional 177,700 shares during the period. Van ECK Associates Corp boosted its holdings in Advanced Micro Devices by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after acquiring an additional 975,220 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Trading Down 1.1 %

Shares of AMD stock opened at $136.24 on Thursday. The business’s 50 day moving average is $152.94 and its two-hundred day moving average is $154.28. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The company has a market capitalization of $221.09 billion, a P/E ratio of 122.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.71. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI increased their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. 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. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the business’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 sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.65% 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.