Elite Wealth Management Inc. Cuts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Elite Wealth Management Inc. cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 77.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,323 shares of the semiconductor manufacturer’s stock after selling 49,091 shares during the quarter. Advanced Micro Devices accounts for about 0.1% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 21st largest holding. Elite Wealth Management Inc.’s holdings in Advanced Micro Devices were worth $2,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMD. Tradewinds Capital Management LLC grew its holdings in Advanced Micro Devices by 102.9% during the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 71 shares in the last quarter. Semmax Financial Advisors Inc. raised its holdings in Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares during the period. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices in the 2nd quarter worth about $27,000. Valued Wealth Advisors LLC boosted its position in shares of Advanced Micro Devices by 70.7% during the first quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 70 shares during the period. Finally, Morton Brown Family Wealth LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 85 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 5.7 %

Shares of NASDAQ:AMD opened at $156.74 on Friday. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. The business has a fifty day moving average price of $147.28 and a two-hundred day moving average price of $161.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The company has a market capitalization of $253.34 billion, a PE ratio of 230.50, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. Analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on AMD shares. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Monday. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Truist Financial reduced their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $193.45.

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.