Proactive Wealth Strategies LLC Purchases New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

by · The Markets Daily

Proactive Wealth Strategies LLC acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,382 shares of the semiconductor manufacturer’s stock, valued at approximately $883,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Van ECK Associates Corp lifted its holdings in Advanced Micro Devices by 52.6% during the second 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. Assenagon Asset Management S.A. boosted its position in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Advanced Micro Devices by 1.6% in the 1st 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 in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Advanced Micro Devices during the 2nd quarter worth $296,178,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $147.35 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. Advanced Micro Devices, Inc. has a 1-year low of $116.00 and a 1-year high of $227.30. The company has a market cap of $239.12 billion, a PE ratio of 132.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.71. The stock’s 50 day simple moving average is $154.41 and its 200-day simple moving average is $155.52.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMD has been the topic of a number of analyst reports. Truist Financial cut their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Robert W. Baird decreased their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Check Out Our Latest Research Report on AMD

Advanced Micro Devices Profile

(Free Report)

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.

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