Elevatus Welath Management Purchases New Stake in Advanced Micro Devices, Inc. $AMD

Elevatus Welath Management acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the second quarter, HoldingsChannel reports. The institutional investor acquired 26,001 shares of the semiconductor manufacturer’s stock, valued at approximately $3,690,000. Advanced Micro Devices accounts for 1.2% of Elevatus Welath Management’s portfolio, making the stock its 26th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. lifted its position in shares of Advanced Micro Devices by 81.0% in the 2nd quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares during the last quarter. Dogwood Wealth Management LLC raised its stake in Advanced Micro Devices by 2,311.1% during the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 208 shares during the period. Avion Wealth lifted its holdings in Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 72 shares during the last quarter. West Branch Capital LLC boosted its stake in Advanced Micro Devices by 3,057.1% in the second quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 214 shares during the period. Finally, Semmax Financial Advisors Inc. boosted its stake in Advanced Micro Devices by 115.1% in the first quarter. Semmax Financial Advisors Inc. now owns 370 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 198 shares during the period. Institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.14, for a total transaction of $26,892,500.00. Following the sale, the chief executive officer owned 3,277,476 shares of the company’s stock, valued at $705,116,186.64. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 19,450 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the sale, the executive vice president owned 300,348 shares of the company’s stock, valued at $68,890,820.76. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 183,476 shares of company stock worth $40,249,093 over the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AMD has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Advanced Micro Devices from $180.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $260.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Dbs Bank raised shares of Advanced Micro Devices from a “hold” rating to a “moderate buy” rating in a report on Monday, October 6th. Wells Fargo & Company increased their price objective on shares of Advanced Micro Devices from $300.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Finally, Cowen reiterated a “buy” rating on shares of Advanced Micro Devices in a research report on Tuesday, December 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.54.

Advanced Micro Devices Stock Performance

AMD stock opened at $210.78 on Friday. The company has a market capitalization of $343.16 billion, a P/E ratio of 104.35, a PEG ratio of 1.64 and a beta of 1.93. The company has a 50-day simple moving average of $231.11 and a 200 day simple moving average of $179.11. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $267.08. The company has a quick ratio of 1.68, a current ratio of 2.31 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The firm had revenue of $9.25 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter last year, the company earned $0.92 EPS. Advanced Micro Devices’s quarterly revenue was up 35.6% on a year-over-year basis. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal 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.