Grassi Investment Management Decreases Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Grassi Investment Management trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,360 shares of the semiconductor manufacturer’s stock after selling 1,550 shares during the quarter. Advanced Micro Devices accounts for approximately 1.6% of Grassi Investment Management’s holdings, making the stock its 13th biggest holding. Grassi Investment Management’s holdings in Advanced Micro Devices were worth $14,508,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Fairfield Bush & CO. bought a new position in Advanced Micro Devices during the 1st quarter valued at about $836,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Advanced Micro Devices by 49.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,384,719 shares of the semiconductor manufacturer’s stock valued at $260,746,000 after purchasing an additional 791,710 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Advanced Micro Devices by 34.9% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 2,677 shares of the semiconductor manufacturer’s stock valued at $293,000 after purchasing an additional 692 shares during the last quarter. Raymond James Trust N.A. grew its holdings in Advanced Micro Devices by 104.8% during the 1st quarter. Raymond James Trust N.A. now owns 7,959 shares of the semiconductor manufacturer’s stock valued at $870,000 after purchasing an additional 4,072 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Advanced Micro Devices by 217.2% during the 1st quarter. Baird Financial Group Inc. now owns 398,051 shares of the semiconductor manufacturer’s stock valued at $43,524,000 after purchasing an additional 272,557 shares during the last quarter. 68.43% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 1.1 %

Shares of NASDAQ:AMD opened at $100.35 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.18 and a quick ratio of 1.58. The firm has a market capitalization of $162.13 billion, a PE ratio of -5,074.50, a price-to-earnings-growth ratio of 5.98 and a beta of 1.80. The firm’s 50-day moving average is $109.97 and its two-hundred day moving average is $104.65. Advanced Micro Devices, Inc. has a 1 year low of $54.57 and a 1 year high of $132.83.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, August 1st. The semiconductor manufacturer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.32 billion. Advanced Micro Devices had a negative net margin of 0.11% and a positive return on equity of 5.69%. The business’s revenue for the quarter was down 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. Analysts predict that Advanced Micro Devices, Inc. will post 2.01 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on AMD shares. Stifel Nicolaus upped their target price on shares of Advanced Micro Devices from $98.00 to $145.00 in a research note on Wednesday, June 14th. Wolfe Research initiated coverage on shares of Advanced Micro Devices in a research note on Wednesday, July 19th. They set an “outperform” rating and a $150.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, August 2nd. Raymond James increased their target price on shares of Advanced Micro Devices from $110.00 to $145.00 in a research report on Wednesday, June 14th. Finally, Susquehanna increased their target price on shares of Advanced Micro Devices from $135.00 to $145.00 and gave the company a “positive” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $135.19.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $111.59, for a total transaction of $8,369,250.00. Following the sale, the chief executive officer now directly owns 3,192,774 shares in the company, valued at $356,281,650.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Paul Darren Grasby sold 14,942 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $106.21, for a total value of $1,586,989.82. Following the completion of the transaction, the executive vice president now directly owns 103,663 shares of the company’s stock, valued at $11,010,047.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $111.59, for a total value of $8,369,250.00. Following the completion of the transaction, the chief executive officer now directly owns 3,192,774 shares of the company’s stock, valued at $356,281,650.66. The disclosure for this sale can be found here. Insiders have sold 196,643 shares of company stock worth $21,395,584 over the last three months. Company insiders own 0.73% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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.