Obermeyer Wealth Partners Has $229,000 Stock Position in Advanced Micro Devices, Inc. $AMD

Obermeyer Wealth Partners reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 23.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,613 shares of the semiconductor manufacturer’s stock after selling 499 shares during the period. Obermeyer Wealth Partners’ holdings in Advanced Micro Devices were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Advisory LLC increased its stake in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Cornerstone Advisory LLC now owns 4,271 shares of the semiconductor manufacturer’s stock valued at $606,000 after buying an additional 57 shares during the period. Tritonpoint Wealth LLC increased its stake in shares of Advanced Micro Devices by 2.6% in the 2nd quarter. Tritonpoint Wealth LLC now owns 2,857 shares of the semiconductor manufacturer’s stock valued at $405,000 after buying an additional 72 shares during the period. Avion Wealth grew its stake in shares of Advanced Micro Devices by 49.3% during the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 72 shares during the period. Scott & Selber Inc. grew its stake in shares of Advanced Micro Devices by 0.7% during the second quarter. Scott & Selber Inc. now owns 10,465 shares of the semiconductor manufacturer’s stock worth $1,485,000 after purchasing an additional 73 shares during the period. Finally, Sandy Cove Advisors LLC grew its stake in shares of Advanced Micro Devices by 1.4% during the second quarter. Sandy Cove Advisors LLC now owns 5,470 shares of the semiconductor manufacturer’s stock worth $776,000 after purchasing an additional 75 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on AMD. HSBC lifted their price objective on Advanced Micro Devices from $185.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Bank of America lifted their price objective on Advanced Micro Devices from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Melius Research set a $300.00 price objective on Advanced Micro Devices in a research note on Monday, October 6th. UBS Group lifted their price objective on Advanced Micro Devices from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Advanced Micro Devices from $120.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.32.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 2,250 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $165.01, for a total value of $371,272.50. Following the sale, the executive vice president directly owned 311,598 shares in the company, valued at $51,416,785.98. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 225,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $163.97, for a total value of $36,893,250.00. Following the completion of the sale, the chief executive officer owned 3,359,748 shares in the company, valued at approximately $550,897,879.56. This trade represents a 6.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 274,118 shares of company stock valued at $46,180,719. Corporate insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Performance

AMD stock opened at $259.65 on Tuesday. The business’s 50-day moving average price is $193.09 and its two-hundred day moving average price is $154.91. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm has a market cap of $421.37 billion, a PE ratio of 149.22, a P/E/G ratio of 2.42 and a beta of 1.90. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $267.08.

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

Advanced Micro Devices 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.