Meridian Investment Counsel Inc. Purchases 300 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Meridian Investment Counsel Inc. lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 20.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,774 shares of the semiconductor manufacturer’s stock after purchasing an additional 300 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Advanced Micro Devices were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Cherrydale Wealth Management LLC boosted its holdings in Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after acquiring an additional 58 shares in the last quarter. Addison Advisors LLC boosted its holdings in Advanced Micro Devices by 41.9% in the fourth quarter. Addison Advisors LLC now owns 210 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 62 shares in the last quarter. Prentice Wealth Management LLC boosted its holdings in Advanced Micro Devices by 1.6% in the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after acquiring an additional 62 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Advanced Micro Devices by 0.9% in the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock worth $1,314,000 after acquiring an additional 63 shares in the last quarter. Finally, Delta Financial Group Inc. raised its stake in shares of Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after purchasing an additional 63 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMD. Citigroup boosted their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI decreased their price target on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Wedbush restated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Benchmark decreased their price target on Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group began coverage on Advanced Micro Devices in a research note on Monday, May 13th. They issued a “buy” rating and a $190.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $193.45.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at $245,757,319.38. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded up $6.72 during midday trading on Monday, reaching $155.28. 60,516,129 shares of the stock traded hands, compared to its average volume of 63,100,125. The stock’s fifty day moving average is $154.76 and its 200-day moving average is $165.42. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The stock has a market cap of $250.98 billion, a P/E ratio of 224.03, a PEG ratio of 1.79 and a beta of 1.69. The company has a quick ratio of 1.92, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.58 EPS 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.