Highland Capital Management LLC Acquires 646 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Highland Capital Management LLC raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) by 1.5% during the second quarter, Holdings Channel.com reports. The fund owned 43,083 shares of the semiconductor manufacturer’s stock after buying an additional 646 shares during the period. Highland Capital Management LLC’s holdings in Advanced Micro Devices were worth $3,295,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MBM Wealth Consultants LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $25,000. Cordasco Financial Network increased its holdings in shares of Advanced Micro Devices by 287.5% in the first quarter. Cordasco Financial Network now owns 279 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 207 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $32,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Advanced Micro Devices in the first quarter worth about $32,000. Finally, Sycomore Asset Management bought a new stake in shares of Advanced Micro Devices in the first quarter worth about $32,000. 65.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMD shares. Susquehanna reduced their target price on Advanced Micro Devices from $140.00 to $120.00 and set a “positive” rating on the stock in a report on Wednesday, July 13th. UBS Group lifted their price target on Advanced Micro Devices from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Bank of America dropped their price target on Advanced Micro Devices from $160.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. BMO Capital Markets upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $115.00 in a research report on Thursday, July 14th. Finally, Barclays dropped their price target on Advanced Micro Devices from $115.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.10.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $69.50 on Friday. The company has a market capitalization of $112.20 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 0.69 and a beta of 1.97. Advanced Micro Devices, Inc. has a 52 week low of $69.17 and a 52 week high of $164.46. The company has a quick ratio of 1.96, a current ratio of 2.44 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $88.80 and a 200 day moving average of $93.31.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The semiconductor manufacturer reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.52 billion. Advanced Micro Devices had a return on equity of 15.17% and a net margin of 14.51%. During the same period last year, the firm earned $0.58 EPS. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $100.02, for a total transaction of $12,502,500.00. Following the transaction, the chief executive officer now directly owns 2,926,985 shares of the company’s stock, valued at $292,757,039.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Forrest Eugene Norrod sold 824 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $99.31, for a total transaction of $81,831.44. Following the transaction, the senior vice president now directly owns 276,816 shares of the company’s stock, valued at $27,490,596.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $100.02, for a total value of $12,502,500.00. Following the transaction, the chief executive officer now directly owns 2,926,985 shares in the company, valued at $292,757,039.70. The disclosure for this sale can be found here. Insiders sold 161,518 shares of company stock valued at $15,378,613 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Advanced Micro Devices Profile

(Get Rating)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

Further Reading

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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