Avaii Wealth Management LLC Raises Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avaii Wealth Management LLC grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,443 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,120 shares during the period. Advanced Micro Devices comprises approximately 2.4% of Avaii Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. Avaii Wealth Management LLC’s holdings in Advanced Micro Devices were worth $4,831,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AMD. Van ECK Associates Corp boosted its position in Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after buying an additional 2,349,288 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter worth approximately $296,178,000. Swedbank AB acquired a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $290,842,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Advanced Micro Devices by 29.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,923,710 shares of the semiconductor manufacturer’s stock worth $960,885,000 after buying an additional 1,331,165 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Susquehanna reissued a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Wells Fargo & Company raised their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Truist Financial cut their target price on 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. Finally, Barclays cut their target price on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Advanced Micro Devices Stock Up 1.2 %

Shares of NASDAQ AMD traded up $1.80 during midday trading on Thursday, hitting $157.93. 14,861,239 shares of the company’s stock were exchanged, compared to its average volume of 57,545,488. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30. The company has a market cap of $255.26 billion, a PE ratio of 231.43, a P/E/G ratio of 2.33 and a beta of 1.70. The firm’s fifty day simple moving average is $153.03 and its 200-day simple moving average is $157.14.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share 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 last year, the company earned $0.40 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

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.