Avitas Wealth Management LLC Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avitas Wealth Management LLC cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,390 shares of the semiconductor manufacturer’s stock after selling 1,740 shares during the period. Advanced Micro Devices accounts for 1.0% of Avitas Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Avitas Wealth Management LLC’s holdings in Advanced Micro Devices were worth $6,955,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMD. Tradewinds Capital Management LLC increased its stake in Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares during the last quarter. ZRC Wealth Management LLC raised its stake in Advanced Micro Devices by 90.4% during 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 in the last quarter. Morton Brown Family Wealth LLC lifted its position in Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares during the last quarter. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the second quarter valued at $27,000. Finally, Semmax Financial Advisors Inc. increased its position in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Trading Up 4.0 %

Shares of AMD stock opened at $166.25 on Wednesday. The stock has a market cap of $268.71 billion, a P/E ratio of 244.49, a P/E/G ratio of 2.33 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $94.07 and a fifty-two week high of $227.30. The business has a fifty day simple moving average of $155.35 and a 200-day simple moving average of $156.08.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on AMD. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Susquehanna reaffirmed a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Monday, October 7th. KeyCorp reduced 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. Finally, Bank of America restated a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $194.14.

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.