Pictet North America Advisors SA Buys 4,313 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pictet North America Advisors SA lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 18.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,268 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,313 shares during the period. Pictet North America Advisors SA’s holdings in Advanced Micro Devices were worth $4,474,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMD. Tradewinds Capital Management LLC raised its stake in shares of Advanced Micro Devices by 102.9% during the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares during the period. ZRC Wealth Management LLC increased its holdings in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC increased its holdings in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares during the last quarter. Fairway Wealth LLC purchased a new stake in Advanced Micro Devices in the 2nd quarter worth about $27,000. Finally, Semmax Financial Advisors Inc. increased its holdings in Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 139 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $154.09 on Wednesday. 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. The business has a 50 day moving average of $154.54 and a 200 day moving average of $156.45. The company has a market capitalization of $249.06 billion, a price-to-earnings ratio of 226.60, a PEG ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays decreased their price objective on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, July 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Monday, October 7th. Piper Sandler lifted their target price on Advanced Micro Devices from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Robert W. Baird reduced their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Company 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.