Abbot Financial Management Inc. Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Abbot Financial Management Inc. lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 15.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,980 shares of the semiconductor manufacturer’s stock after buying an additional 524 shares during the period. Abbot Financial Management Inc.’s holdings in Advanced Micro Devices were worth $646,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Precision Wealth Strategies LLC lifted its stake in Advanced Micro Devices by 4.0% during the 4th quarter. Precision Wealth Strategies LLC now owns 4,060 shares of the semiconductor manufacturer’s stock valued at $598,000 after acquiring an additional 155 shares during the period. Concentrum Wealth Management raised its holdings in shares of Advanced Micro Devices by 6.6% during the fourth quarter. Concentrum Wealth Management now owns 38,157 shares of the semiconductor manufacturer’s stock worth $5,625,000 after purchasing an additional 2,354 shares during the last quarter. 9258 Wealth Management LLC boosted its holdings in Advanced Micro Devices by 70.4% in the fourth quarter. 9258 Wealth Management LLC now owns 12,122 shares of the semiconductor manufacturer’s stock valued at $1,787,000 after purchasing an additional 5,009 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Advanced Micro Devices by 0.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 282,557 shares of the semiconductor manufacturer’s stock worth $41,652,000 after purchasing an additional 919 shares during the period. Finally, Gladstone Institutional Advisory LLC raised its stake in shares of Advanced Micro Devices by 12.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 29,034 shares of the semiconductor manufacturer’s stock valued at $4,280,000 after buying an additional 3,325 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly 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 available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $152.08 on Tuesday. The business’s 50 day moving average price is $149.03 and its 200 day moving average price is $161.49. The company has a market cap of $245.81 billion, a price-to-earnings ratio of 223.65, a PEG ratio of 2.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. Advanced Micro Devices, Inc. has a one year low of $93.11 and a one year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

AMD has been the topic of several analyst reports. Bank of America dropped their target price on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Susquehanna reaffirmed a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald cut their price objective on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.45.

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.