Independence Bank of Kentucky Grows Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Independence Bank of Kentucky increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 92.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,686 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,836 shares during the quarter. Advanced Micro Devices makes up approximately 0.9% of Independence Bank of Kentucky’s investment portfolio, making the stock its 24th largest position. Independence Bank of Kentucky’s holdings in Advanced Micro Devices were worth $4,050,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its stake in shares of Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 71 shares in the last quarter. ZRC Wealth Management LLC lifted its stake in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Morton Brown Family Wealth LLC lifted its stake in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Finally, Northwest Bank & Trust Co purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $28,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 0.5 %

Shares of Advanced Micro Devices stock traded up $0.78 during trading on Friday, hitting $164.96. 5,984,522 shares of the stock were exchanged, compared to its average volume of 57,884,016. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The firm’s 50-day moving average price is $150.63 and its 200 day moving average price is $157.79. The stock has a market cap of $266.98 billion, a price-to-earnings ratio of 201.17, a price-to-earnings-growth 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.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the business earned $0.40 EPS. Advanced Micro Devices’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction on Monday, July 15th. The shares were 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 owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMD shares. Edward Jones assumed coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating on the stock. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Barclays decreased their target price on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, Piper Sandler upped their price objective on Advanced Micro Devices from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.31.

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.