Prosperity Consulting Group LLC Acquires 2,881 Shares of Advanced Micro Devices, Inc. $AMD

Prosperity Consulting Group LLC boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 72.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,874 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,881 shares during the period. Prosperity Consulting Group LLC’s holdings in Advanced Micro Devices were worth $975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AMD. Brighton Jones LLC increased its position in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after buying an additional 29,438 shares during the period. Revolve Wealth Partners LLC increased its position in Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after buying an additional 234 shares during the period. Capital Advisors Inc. OK increased its position in Advanced Micro Devices by 36.2% during the 1st quarter. Capital Advisors Inc. OK now owns 7,418 shares of the semiconductor manufacturer’s stock worth $762,000 after buying an additional 1,972 shares during the period. Callan Capital LLC increased its position in Advanced Micro Devices by 27.6% during the 1st quarter. Callan Capital LLC now owns 3,775 shares of the semiconductor manufacturer’s stock worth $388,000 after buying an additional 816 shares during the period. Finally, Pekin Hardy Strauss Inc. increased its position in Advanced Micro Devices by 15.8% during the 1st quarter. Pekin Hardy Strauss Inc. now owns 7,430 shares of the semiconductor manufacturer’s stock worth $763,000 after buying an additional 1,015 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler set a $280.00 price objective on Advanced Micro Devices and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on Advanced Micro Devices from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Roth Capital set a $250.00 price target on Advanced Micro Devices and gave the stock a “buy” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. raised their price target on Advanced Micro Devices from $120.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Dbs Bank upgraded Advanced Micro Devices from a “hold” rating to a “moderate buy” rating in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.82.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $250.05 on Wednesday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $267.08. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $194.76 and its two-hundred day moving average price is $156.06. The stock has a market cap of $405.79 billion, a PE ratio of 143.71, a P/E/G ratio of 2.42 and a beta of 1.90.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue was up 31.7% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 225,000 shares of Advanced Micro Devices stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $163.97, for a total value of $36,893,250.00. Following the transaction, the chief executive officer owned 3,359,748 shares in the company, valued at $550,897,879.56. The trade was a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ava Hahn sold 2,868 shares of Advanced Micro Devices stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $226.01, for a total value of $648,196.68. Following the completion of the transaction, the senior vice president owned 9,033 shares in the company, valued at approximately $2,041,548.33. This represents a 24.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 274,118 shares of company stock valued at $46,180,719. Company insiders own 0.06% of the company’s stock.

About Advanced Micro Devices

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.