Cornerstone Advisors LLC Sells 300 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cornerstone Advisors LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,000 shares of the semiconductor manufacturer’s stock after selling 300 shares during the period. Cornerstone Advisors LLC’s holdings in Advanced Micro Devices were worth $10,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Citizens Financial Group Inc. RI raised its stake in shares of Advanced Micro Devices by 101.7% in the second quarter. Citizens Financial Group Inc. RI now owns 14,371 shares of the semiconductor manufacturer’s stock worth $2,331,000 after buying an additional 7,245 shares during the period. Total Clarity Wealth Management Inc. increased its holdings in Advanced Micro Devices by 11.2% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 1,640 shares of the semiconductor manufacturer’s stock worth $266,000 after acquiring an additional 165 shares in the last quarter. Harvard Management Co. Inc. raised its stake in Advanced Micro Devices by 285.8% during the 2nd quarter. Harvard Management Co. Inc. now owns 645,899 shares of the semiconductor manufacturer’s stock worth $104,771,000 after acquiring an additional 478,493 shares during the period. Menard Financial Group LLC lifted its holdings in Advanced Micro Devices by 118.9% during the second quarter. Menard Financial Group LLC now owns 4,915 shares of the semiconductor manufacturer’s stock valued at $797,000 after purchasing an additional 2,670 shares in the last quarter. Finally, Sierra Summit Advisors LLC boosted its position in shares of Advanced Micro Devices by 0.6% in the second quarter. Sierra Summit Advisors LLC now owns 51,024 shares of the semiconductor manufacturer’s stock worth $8,277,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $152.31 on Monday. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The company has a market capitalization of $246.51 billion, a price-to-earnings ratio of 223.99, a PEG ratio of 2.04 and a beta of 1.69. The firm’s 50-day moving average is $149.56 and its 200 day moving average is $161.78.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMD has been the topic of several recent analyst reports. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Citigroup boosted their price objective on Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Truist Financial decreased their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Finally, Robert W. Baird lowered their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Company 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.