Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Essex LLC

Essex LLC trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,155 shares of the semiconductor manufacturer’s stock after selling 2,471 shares during the period. Advanced Micro Devices accounts for approximately 1.6% of Essex LLC’s holdings, making the stock its 14th largest holding. Essex LLC’s holdings in Advanced Micro Devices were worth $7,573,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

AMD has been the topic of several research reports. Morgan Stanley raised their price target on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Susquehanna restated a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays cut their price objective on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Finally, StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research 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 company’s stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Advanced Micro Devices Stock Down 0.2 %

Shares of NASDAQ:AMD opened at $155.97 on Friday. The company’s fifty day moving average is $153.86 and its two-hundred day moving average is $156.79. 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 1-year low of $93.11 and a 1-year high of $227.30. The stock has a market capitalization of $252.10 billion, a price-to-earnings ratio of 229.37, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

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.