Financial Insights Inc. Decreases Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Financial Insights Inc. cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 50.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,721 shares of the semiconductor manufacturer’s stock after selling 3,777 shares during the period. Financial Insights Inc.’s holdings in Advanced Micro Devices were worth $611,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMD. Annex Advisory Services LLC purchased a new stake in Advanced Micro Devices during the 1st quarter valued at $201,000. Sound Income Strategies LLC increased its stake in shares of Advanced Micro Devices by 15.0% in the 1st quarter. Sound Income Strategies LLC now owns 582 shares of the semiconductor manufacturer’s stock worth $105,000 after purchasing an additional 76 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Advanced Micro Devices by 15.3% in the 1st quarter. Sunbelt Securities Inc. now owns 6,169 shares of the semiconductor manufacturer’s stock worth $1,113,000 after purchasing an additional 818 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in shares of Advanced Micro Devices by 30.7% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,165 shares of the semiconductor manufacturer’s stock worth $571,000 after purchasing an additional 744 shares in the last quarter. Finally, TrueMark Investments LLC increased its stake in shares of Advanced Micro Devices by 13.5% in the 1st quarter. TrueMark Investments LLC now owns 15,478 shares of the semiconductor manufacturer’s stock worth $2,794,000 after purchasing an additional 1,846 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $154.09 on Wednesday. The firm has a market cap of $249.06 billion, a PE ratio of 226.60, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The firm’s 50 day simple moving average is $154.54 and its 200-day simple moving average is $156.45. Advanced Micro Devices, Inc. has a one year low of $93.11 and a one year high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMD. Barclays reduced their price objective on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Bank of America restated a “buy” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. KeyCorp dropped their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Edward Jones assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Finally, Morgan Stanley upped their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $195.00.

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.