Cornerstone Advisors LLC Purchases 7,400 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cornerstone Advisors LLC grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,400 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,400 shares during the period. Cornerstone Advisors LLC’s holdings in Advanced Micro Devices were worth $11,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMD. Swiss National Bank boosted its stake in Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after buying an additional 12,500 shares during the period. Harvest Portfolios Group Inc. boosted its position in shares of Advanced Micro Devices by 4.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after acquiring an additional 6,168 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after purchasing an additional 588,595 shares in the last quarter. Vectors Research Management LLC bought a new position in shares of Advanced Micro Devices in the third quarter worth approximately $1,394,000. Finally, Prospera Financial Services Inc raised its stake in Advanced Micro Devices by 50.7% in the third quarter. Prospera Financial Services Inc now owns 87,602 shares of the semiconductor manufacturer’s stock valued at $14,374,000 after purchasing an additional 29,453 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $137.60 on Thursday. The firm has a market cap of $223.30 billion, a P/E ratio of 123.96, a PEG ratio of 1.87 and a beta of 1.71. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $154.22 and a 200 day moving average of $154.82.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Robert W. Baird dropped their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Benchmark restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Finally, Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

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.