Prentice Wealth Management LLC Makes New $125,000 Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Prentice Wealth Management LLC acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,333 shares of the semiconductor manufacturer’s stock, valued at approximately $125,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Advanced Micro Devices by 2.2% during the first quarter. Geode Capital Management LLC now owns 18,338,945 shares of the semiconductor manufacturer’s stock valued at $1,435,291,000 after buying an additional 394,061 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Advanced Micro Devices by 5.2% during the second quarter. Fisher Asset Management LLC now owns 10,021,656 shares of the semiconductor manufacturer’s stock valued at $941,334,000 after buying an additional 495,259 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Advanced Micro Devices by 14.9% during the second quarter. American Century Companies Inc. now owns 5,283,833 shares of the semiconductor manufacturer’s stock valued at $496,310,000 after buying an additional 685,783 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Advanced Micro Devices by 7.5% during the second quarter. Van ECK Associates Corp now owns 5,239,705 shares of the semiconductor manufacturer’s stock valued at $492,166,000 after buying an additional 365,670 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Advanced Micro Devices by 6.8% during the second quarter. Swiss National Bank now owns 4,939,126 shares of the semiconductor manufacturer’s stock valued at $463,932,000 after buying an additional 313,790 shares during the last quarter. 66.49% of the stock is currently owned by institutional investors.

AMD stock opened at $103.22 on Wednesday. The company’s 50-day simple moving average is $103.76 and its 200-day simple moving average is $89.35. The company has a quick ratio of 2.09, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 52-week low of $72.50 and a 52-week high of $122.49. The firm has a market cap of $125.20 billion, a P/E ratio of 36.72, a PEG ratio of 1.04 and a beta of 2.01.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Monday, July 26th. The semiconductor manufacturer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.09. Advanced Micro Devices had a net margin of 25.76% and a return on equity of 39.20%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 99.3% on a year-over-year basis. On average, analysts anticipate that Advanced Micro Devices, Inc. will post 2.27 earnings per share for the current fiscal year.

In other Advanced Micro Devices news, SVP Forrest Eugene Norrod sold 28,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $98.78, for a total value of $2,815,230.00. Following the transaction, the senior vice president now directly owns 297,141 shares of the company’s stock, valued at approximately $29,351,587.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Darren Grasby sold 17,788 shares of the firm’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $86.30, for a total transaction of $1,535,104.40. Following the completion of the transaction, the executive vice president now directly owns 44,211 shares in the company, valued at $3,815,409.30. The disclosure for this sale can be found here. Insiders sold a total of 455,208 shares of company stock worth $47,117,137 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

A number of analysts recently issued reports on AMD shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $130.00 price target on shares of Advanced Micro Devices in a report on Friday, August 27th. Citigroup upped their target price on Advanced Micro Devices from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, July 28th. They noted that the move was a valuation call. Susquehanna Bancshares upped their target price on Advanced Micro Devices from $125.00 to $130.00 and gave the stock a “positive” rating in a report on Wednesday, July 28th. Rosenblatt Securities restated a “buy” rating and set a $150.00 target price (up previously from $135.00) on shares of Advanced Micro Devices in a report on Wednesday, July 28th. Finally, Susquehanna increased their price objective on Advanced Micro Devices from $125.00 to $130.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $104.48.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.

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

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