Executive Wealth Management LLC Makes New Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Executive Wealth Management LLC acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 52,878 shares of the semiconductor manufacturer’s stock, valued at approximately $8,676,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased 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 worth $1,584,515,000 after purchasing an additional 177,700 shares in the last quarter. Swiss National Bank grew its holdings in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after acquiring an additional 12,500 shares in the last quarter. Shum Financial Group Inc. bought a new position in shares of Advanced Micro Devices in the third quarter valued at approximately $858,000. State Street Corp grew its holdings in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Finally, Harvest Portfolios Group Inc. grew its holdings in shares of Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after acquiring an additional 6,168 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the 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 transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock valued at $28,165,821 over the last 90 days. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $155.00 in a report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a report on Monday, October 28th. Edward Jones started coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating for the company. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Finally, TD Cowen reduced their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $192.36.

Advanced Micro Devices Trading Down 5.6 %

Shares of AMD stock opened at $130.87 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices, Inc. has a 52-week low of $121.82 and a 52-week high of $227.30. The company has a market capitalization of $212.38 billion, a PE ratio of 117.90, a price-to-earnings-growth ratio of 1.91 and a beta of 1.66. The business’s fifty day moving average is $149.48 and its 200 day moving average is $153.01.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

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.