Purus Wealth Management LLC Raises Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Purus Wealth Management LLC boosted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,600 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,835 shares during the period. Advanced Micro Devices accounts for about 1.9% of Purus Wealth Management LLC’s holdings, making the stock its 14th biggest position. Purus Wealth Management LLC’s holdings in Advanced Micro Devices were worth $4,315,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMD. Bradley Foster & Sargent Inc. CT lifted its position in Advanced Micro Devices by 2.1% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,729 shares of the semiconductor manufacturer’s stock valued at $1,092,000 after purchasing an additional 141 shares during the last quarter. Financial & Tax Architects LLC bought a new stake in Advanced Micro Devices during the second quarter valued at approximately $1,138,000. L & S Advisors Inc lifted its position in Advanced Micro Devices by 21.7% during the second quarter. L & S Advisors Inc now owns 12,746 shares of the semiconductor manufacturer’s stock valued at $2,068,000 after purchasing an additional 2,273 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in Advanced Micro Devices by 28.1% during the second quarter. Axxcess Wealth Management LLC now owns 31,779 shares of the semiconductor manufacturer’s stock valued at $5,155,000 after purchasing an additional 6,971 shares during the last quarter. Finally, Fairway Wealth LLC bought a new stake in Advanced Micro Devices during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of the 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 sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Wedbush restated an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Cantor Fitzgerald lowered their price objective on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Susquehanna restated a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $193.45.

Advanced Micro Devices Stock Down 0.8 %

NASDAQ:AMD opened at $150.82 on Wednesday. The firm’s 50-day moving average price is $148.50 and its 200-day moving average price is $161.13. The company has a market capitalization of $243.77 billion, a PE ratio of 221.79, a P/E/G ratio of 2.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the firm earned $0.40 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS 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.