Harmony Asset Management LLC Grows Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Harmony Asset Management LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 90.3% during the 3rd quarter, Holdings Channel reports. The fund owned 4,333 shares of the semiconductor manufacturer’s stock after buying an additional 2,056 shares during the period. Harmony Asset Management LLC’s holdings in Advanced Micro Devices were worth $711,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Creative Capital Management Investments LLC grew its holdings in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC increased its position in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices in the second quarter worth about $27,000. Morton Brown Family Wealth LLC raised its position in Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Advanced Micro Devices during the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $142.06 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30. The firm has a fifty day moving average of $152.16 and a two-hundred day moving average of $154.03. The stock has a market capitalization of $230.54 billion, a price-to-earnings ratio of 127.98, a PEG ratio of 1.89 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’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 transaction of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMD shares. UBS Group decreased their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Barclays reduced their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Evercore ISI boosted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $192.79.

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.