Meridian Wealth Advisors LLC Has $3.53 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Meridian Wealth Advisors LLC raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 176.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,951 shares of the semiconductor manufacturer’s stock after buying an additional 15,298 shares during the period. Meridian Wealth Advisors LLC’s holdings in Advanced Micro Devices were worth $3,531,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $100,000. Everpar Advisors LLC bought a new position in Advanced Micro Devices during the fourth quarter worth $489,000. Sovereign Financial Group Inc. bought a new position in Advanced Micro Devices during the fourth quarter worth $357,000. Simmons Bank raised its stake in Advanced Micro Devices by 3.4% during the fourth quarter. Simmons Bank now owns 2,271 shares of the semiconductor manufacturer’s stock worth $335,000 after buying an additional 75 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Advanced Micro Devices by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,923,022 shares of the semiconductor manufacturer’s stock worth $1,315,343,000 after buying an additional 229,286 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. KeyCorp decreased their price target on shares of Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. HSBC upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $225.00 in a report on Tuesday, April 16th. New Street Research upgraded shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Wednesday, January 24th. Bank of America boosted their price target on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Morgan Stanley cut their price target on shares of Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.94.

Advanced Micro Devices Trading Down 0.4 %

Shares of AMD opened at $153.08 on Thursday. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30. The company has a market cap of $247.43 billion, a P/E ratio of 225.91, a P/E/G ratio of 2.33 and a beta of 1.66. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $174.53 and its 200-day simple moving average is $153.23.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Monday, April 15th. The stock was sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the sale, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The disclosure for this sale can be found here. Insiders have sold a total of 181,850 shares of company stock worth $34,637,833 in the last three months. Corporate insiders own 0.65% 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.