Armstrong Advisory Group Inc. Grows Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Armstrong Advisory Group Inc. boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,084 shares of the semiconductor manufacturer’s stock after purchasing an additional 177 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Advanced Micro Devices were worth $506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Advanced Micro Devices by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after purchasing an additional 116,020 shares in the last quarter. Chapin Davis Inc. grew its holdings in Advanced Micro Devices by 613.4% in the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after purchasing an additional 10,544 shares during the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new position in shares of Advanced Micro Devices during the 3rd quarter worth $2,394,000. Sycomore Asset Management boosted its position in shares of Advanced Micro Devices by 28.6% in the 2nd quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock worth $21,722,000 after buying an additional 30,677 shares in the last quarter. Finally, Bank of New Hampshire grew its stake in Advanced Micro Devices by 811.3% in the 1st quarter. Bank of New Hampshire now owns 8,065 shares of the semiconductor manufacturer’s stock valued at $1,456,000 after acquiring an additional 7,180 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 2.3 %

NASDAQ AMD opened at $167.89 on Monday. The stock has a market cap of $271.36 billion, a PE ratio of 246.90, a P/E/G ratio of 2.33 and a beta of 1.70. The business has a 50 day moving average price of $151.34 and a two-hundred day moving average price of $157.42. Advanced Micro Devices, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. TD Cowen upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Monday, September 16th. Susquehanna reissued a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 7th. Finally, Truist Financial cut their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $195.00.

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.