Pittenger & Anderson Inc. Decreases Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pittenger & Anderson Inc. trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) by 54.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,075 shares of the semiconductor manufacturer’s stock after selling 2,529 shares during the period. Pittenger & Anderson Inc.’s holdings in Advanced Micro Devices were worth $159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MBM Wealth Consultants LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Cordasco Financial Network boosted its holdings in shares of Advanced Micro Devices by 287.5% during the 1st quarter. Cordasco Financial Network now owns 279 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 207 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $32,000. Hazlett Burt & Watson Inc. bought a new position in shares of Advanced Micro Devices during the 1st quarter valued at about $32,000. Finally, Sycomore Asset Management bought a new position in shares of Advanced Micro Devices during the 1st quarter valued at about $32,000. 65.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $100.02, for a total transaction of $12,502,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,926,985 shares in the company, valued at $292,757,039.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Paul Darren Grasby sold 32,694 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $76.99, for a total transaction of $2,517,111.06. Following the completion of the transaction, the executive vice president now directly owns 37,800 shares in the company, valued at $2,910,222. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $100.02, for a total transaction of $12,502,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,926,985 shares of the company’s stock, valued at approximately $292,757,039.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,518 shares of company stock worth $15,378,613. Company insiders own 1.00% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of AMD opened at $69.50 on Friday. Advanced Micro Devices, Inc. has a twelve month low of $69.17 and a twelve month high of $164.46. The company has a 50 day moving average of $88.80 and a two-hundred day moving average of $93.31. 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 company has a market cap 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 (NASDAQ:AMDGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The semiconductor manufacturer reported $0.91 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.03). Advanced Micro Devices had a return on equity of 15.17% and a net margin of 14.51%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, analysts predict that Advanced Micro Devices, Inc. will post 3.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on AMD. The Goldman Sachs Group reissued a “buy” rating and set a $112.00 price objective (up previously from $99.00) on shares of Advanced Micro Devices in a report on Thursday, August 4th. Robert W. Baird reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Advanced Micro Devices in a report on Tuesday, June 14th. Susquehanna Bancshares lowered their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set a “positive” rating for the company in a report on Wednesday, July 13th. JPMorgan Chase & Co. reduced their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $165.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $125.10.

About Advanced Micro Devices

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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.

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

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