Granite Bay Wealth Management LLC Buys Shares of 47,040 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Granite Bay Wealth Management LLC bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 47,040 shares of the semiconductor manufacturer’s stock, valued at approximately $7,536,000. Advanced Micro Devices accounts for 0.3% of Granite Bay Wealth Management LLC’s portfolio, making the stock its 27th largest position.

Other large investors also recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Advanced Micro Devices by 813.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after acquiring an additional 4,138,612 shares in the last quarter. Capital World Investors grew its holdings in shares of Advanced Micro Devices by 176.9% during the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock valued at $688,190,000 after acquiring an additional 2,982,704 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after acquiring an additional 2,553,392 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Advanced Micro Devices by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock valued at $20,997,873,000 after acquiring an additional 2,390,558 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by company insiders.

Advanced Micro Devices Stock Down 0.2 %

Shares of AMD opened at $164.08 on Tuesday. The company has a 50-day simple moving average of $146.63 and a 200-day simple moving average of $158.39. The firm has a market capitalization of $265.20 billion, a P/E ratio of 241.29, a P/E/G ratio of 2.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMD shares. Wells Fargo & Company boosted their price target on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Robert W. Baird lowered their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Barclays decreased their price objective on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, July 29th. StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Truist Financial decreased their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $193.45.

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.