Diversify Advisory Services LLC Reduces Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Diversify Advisory Services LLC cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,429 shares of the semiconductor manufacturer’s stock after selling 8,768 shares during the quarter. Advanced Micro Devices comprises 0.9% of Diversify Advisory Services LLC’s investment portfolio, making the stock its 20th biggest position. Diversify Advisory Services LLC’s holdings in Advanced Micro Devices were worth $17,787,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in 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 worth $50,214,000 after buying an additional 116,020 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in Advanced Micro Devices by 15.7% in the 3rd 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 in the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter worth $2,394,000. Sycomore Asset Management raised its holdings in shares of Advanced Micro Devices by 28.6% during the 2nd quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock worth $21,722,000 after acquiring an additional 30,677 shares during the period. Finally, Custom Index Systems LLC acquired a new position in shares of Advanced Micro Devices during the 3rd quarter valued at about $559,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays cut their price objective on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Truist Financial cut their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Edward Jones began coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. Finally, Susquehanna reiterated a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $159.71 on Tuesday. 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 firm’s fifty day simple moving average is $155.15 and its 200-day simple moving average is $156.06. The stock has a market cap of $258.14 billion, a PE ratio of 235.18, 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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Advanced Micro Devices 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.