Salem Investment Counselors Inc. Grows Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Salem Investment Counselors Inc. grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 173,623 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,427 shares during the period. Advanced Micro Devices accounts for about 0.7% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its 29th biggest holding. Salem Investment Counselors Inc.’s holdings in Advanced Micro Devices were worth $20,972,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMD. Charles Schwab Investment Management Inc. boosted its position in shares of Advanced Micro Devices by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock valued at $1,584,515,000 after purchasing an additional 177,700 shares during the period. Swiss National Bank boosted its position in shares of Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after purchasing an additional 12,500 shares during the period. Shum Financial Group Inc. acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at about $858,000. State Street Corp boosted its position in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 0.7 %

Shares of Advanced Micro Devices stock traded up $0.79 on Monday, hitting $116.83. 26,566,594 shares of the company’s stock traded hands, compared to its average volume of 41,455,715. The stock has a market cap of $189.59 billion, a P/E ratio of 105.25, a PEG ratio of 1.88 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $132.58 and its 200 day moving average is $146.57. Advanced Micro Devices, Inc. has a 52-week low of $114.41 and a 52-week high of $227.30.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMD. StockNews.com raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, January 6th. The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $175.00 to $129.00 in a research report on Friday. Barclays decreased their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company decreased their price objective on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Bank of America cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $180.00 to $155.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $182.44.

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’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 owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is currently owned by insiders.

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.