Essex Financial Services Inc. Has $1.10 Million Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Essex Financial Services Inc. grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 67.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,066 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,644 shares during the period. Essex Financial Services Inc.’s holdings in Advanced Micro Devices were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMD. Creative Capital Management Investments LLC boosted its stake in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. Global Wealth Strategies & Associates bought a new position in Advanced Micro Devices in the 4th quarter valued at approximately $26,000. Retirement Wealth Solutions LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $32,000. Compass Financial Services Inc bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $39,000. Finally, FSA Wealth Management LLC acquired a new position in Advanced Micro Devices in the 3rd quarter valued at approximately $41,000. 71.34% of the stock is owned by institutional investors.

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Melius Research reiterated a “hold” rating and set a $129.00 price target (down previously from $160.00) on shares of Advanced Micro Devices in a report on Tuesday, January 28th. Hsbc Global Res lowered Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research report on Wednesday, January 8th. Barclays lowered their price objective on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Melius cut Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $160.00 to $129.00 in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price target on shares of Advanced Micro Devices from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Advanced Micro Devices Stock Performance

AMD opened at $111.10 on Wednesday. The company has a market cap of $180.04 billion, a price-to-earnings ratio of 112.22, a PEG ratio of 1.04 and a beta of 1.65. The company’s fifty day moving average price is $122.79 and its two-hundred day moving average price is $139.51. Advanced Micro Devices, Inc. has a 1-year low of $106.50 and a 1-year high of $227.30. The company has a current ratio of 2.62, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, analysts expect that Advanced Micro Devices, Inc. will post 4.11 EPS for the current fiscal year.

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.