Watts Gwilliam & Co. LLC Cuts Position in Advanced Micro Devices, Inc. $AMD

Watts Gwilliam & Co. LLC lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 46.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,281 shares of the semiconductor manufacturer’s stock after selling 5,435 shares during the period. Watts Gwilliam & Co. LLC’s holdings in Advanced Micro Devices were worth $891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. grew its stake in Advanced Micro Devices by 81.0% in the 2nd quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares in the last quarter. Dogwood Wealth Management LLC lifted its position in Advanced Micro Devices by 2,311.1% in the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock valued at $30,000 after purchasing an additional 208 shares during the last quarter. Avion Wealth grew its holdings in Advanced Micro Devices by 49.3% in the 2nd quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 72 shares during the last quarter. West Branch Capital LLC raised its position in Advanced Micro Devices by 3,057.1% during the 2nd quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 214 shares during the last quarter. Finally, Evolution Wealth Management Inc. purchased a new stake in Advanced Micro Devices in the second quarter worth $34,000. Institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

AMD has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Advanced Micro Devices from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Mizuho lifted their price objective on Advanced Micro Devices from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Piper Sandler reissued an “overweight” rating and issued a $280.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Wolfe Research set a $300.00 price target on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Finally, Seaport Res Ptn lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $278.54.

Advanced Micro Devices Trading Down 4.8%

NASDAQ:AMD opened at $210.78 on Monday. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $267.08. The business has a fifty day moving average price of $231.11 and a 200-day moving average price of $180.04. The firm has a market capitalization of $343.16 billion, a price-to-earnings ratio of 104.35, a price-to-earnings-growth ratio of 1.56 and a beta of 1.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The business had revenue of $9.25 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. The business’s quarterly revenue was up 35.6% on a year-over-year basis. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 19,450 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $229.37, for a total transaction of $4,461,246.50. Following the sale, the executive vice president owned 300,348 shares in the company, valued at $68,890,820.76. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ava Hahn sold 2,868 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $226.01, for a total transaction of $648,196.68. Following the transaction, the senior vice president owned 9,033 shares of the company’s stock, valued at approximately $2,041,548.33. This represents a 24.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 183,476 shares of company stock worth $40,249,093. Company insiders own 0.06% of the company’s stock.

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.