Elite Wealth Management Inc. Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Elite Wealth Management Inc. cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,742 shares of the semiconductor manufacturer’s stock after selling 934 shares during the quarter. Advanced Micro Devices comprises approximately 0.2% of Elite Wealth Management Inc.’s holdings, making the stock its 20th biggest position. Elite Wealth Management Inc.’s holdings in Advanced Micro Devices were worth $1,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC grew its position in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. Bear Mountain Capital Inc. bought a new position in Advanced Micro Devices in the 4th quarter worth about $25,000. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices in the 4th quarter worth about $26,000. Retirement Wealth Solutions LLC purchased a new position in Advanced Micro Devices during the 4th quarter valued at about $32,000. Finally, Compass Financial Services Inc bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at about $39,000. Institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the company from $175.00 to $129.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on Advanced Micro Devices from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley dropped their price objective on Advanced Micro Devices from $158.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Argus upgraded Advanced Micro Devices to a “strong-buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.70.

Advanced Micro Devices Price Performance

AMD opened at $110.84 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The stock’s 50 day simple moving average is $118.84 and its 200 day simple moving average is $137.94. The firm has a market cap of $179.61 billion, a price-to-earnings ratio of 111.96, a PEG ratio of 1.15 and a beta of 1.65. Advanced Micro Devices, Inc. has a 1 year low of $106.50 and a 1 year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. As a group, analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.