Prosperity Financial Group Inc. Purchases 1,904 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Prosperity Financial Group Inc. lifted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 56.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,271 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,904 shares during the period. Prosperity Financial Group Inc.’s holdings in Advanced Micro Devices were worth $865,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. EntryPoint Capital LLC raised its stake in Advanced Micro Devices by 81.9% in the 1st quarter. EntryPoint Capital LLC now owns 342 shares of the semiconductor manufacturer’s stock worth $62,000 after acquiring an additional 154 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Advanced Micro Devices during the 1st quarter valued at approximately $4,205,000. Bayesian Capital Management LP acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at $1,144,000. Industrial Alliance Investment Management Inc. lifted its stake in shares of Advanced Micro Devices by 2.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 4,231 shares of the semiconductor manufacturer’s stock valued at $764,000 after purchasing an additional 120 shares during the period. Finally, Oxford Wealth Group LLC acquired a new stake in Advanced Micro Devices during the first quarter valued at $204,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $138.35 on Monday. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30. The stock’s fifty day moving average is $153.67 and its two-hundred day moving average is $154.59. The company has a market capitalization of $224.52 billion, a P/E ratio of 124.64, a P/E/G ratio of 1.90 and a beta of 1.71. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMD. Wedbush reissued an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Morgan Stanley lowered their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Finally, Barclays cut their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

About Advanced Micro Devices

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.