Pictet North America Advisors SA Buys 4,313 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pictet North America Advisors SA raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 18.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,268 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,313 shares during the period. Pictet North America Advisors SA’s holdings in Advanced Micro Devices were worth $4,474,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Advanced Micro Devices by 59.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after buying an additional 116,020 shares during the period. Chapin Davis Inc. increased its stake in shares of Advanced Micro Devices by 613.4% during the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after buying an additional 10,544 shares during the period. Wesbanco Bank Inc. increased its stake in shares of Advanced Micro Devices by 15.7% during the third quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock valued at $25,524,000 after buying an additional 21,132 shares during the period. St. Louis Financial Planners Asset Management LLC purchased a new position in shares of Advanced Micro Devices during the third quarter valued at approximately $2,394,000. Finally, Sycomore Asset Management increased its stake in shares of Advanced Micro Devices by 28.6% during the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock valued at $21,722,000 after buying an additional 30,677 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Trading Down 2.4 %

Shares of NASDAQ:AMD opened at $154.09 on Wednesday. The company has a market cap of $249.06 billion, a P/E ratio of 226.60, a PEG ratio of 2.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. The stock’s fifty day moving average price is $154.54 and its 200-day moving average price is $156.45.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. Advanced Micro Devices’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMD. Wells Fargo & Company boosted their target price on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given 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 a consensus 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.