Meridian Financial Partners LLC Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Meridian Financial Partners LLC acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,621 shares of the semiconductor manufacturer’s stock, valued at approximately $1,907,000. Advanced Micro Devices accounts for about 1.0% of Meridian Financial Partners LLC’s portfolio, making the stock its 24th biggest position.

Several other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in shares of Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares during the period. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after purchasing an additional 2,349,288 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Advanced Micro Devices during the second quarter valued at about $296,178,000. Swedbank AB acquired a new stake in shares of Advanced Micro Devices in the 1st quarter valued at about $290,842,000. Finally, Assenagon Asset Management S.A. increased its position in Advanced Micro Devices by 29.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,923,710 shares of the semiconductor manufacturer’s stock valued at $960,885,000 after buying an additional 1,331,165 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Trading Down 0.2 %

Advanced Micro Devices stock opened at $155.97 on Friday. 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, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30. The stock has a market cap of $252.10 billion, a P/E ratio of 229.37, a PEG ratio of 2.33 and a beta of 1.70. The firm’s fifty day moving average price is $153.86 and its 200-day moving average price is $156.94.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. Advanced Micro Devices’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMD has been the subject of several recent research reports. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Edward Jones began coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating on the stock. Truist Financial reduced their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Barclays lowered their target price on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, Susquehanna reiterated a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company 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.