Zega Financial LLC Trims Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Zega Financial LLC trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,776 shares of the semiconductor manufacturer’s stock after selling 380 shares during the period. Zega Financial LLC’s holdings in Advanced Micro Devices were worth $1,261,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMD. Cherrydale Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after buying an additional 58 shares during the period. Prentice Wealth Management LLC boosted its position in shares of Advanced Micro Devices by 1.6% in the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after purchasing an additional 62 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Advanced Micro Devices by 0.9% in the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock worth $1,314,000 after purchasing an additional 63 shares in the last quarter. Delta Financial Group Inc. increased its stake in shares of Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after purchasing an additional 63 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its position in shares of Advanced Micro Devices by 0.3% during the 4th quarter. Integrated Advisors Network LLC now owns 18,944 shares of the semiconductor manufacturer’s stock valued at $2,793,000 after purchasing an additional 65 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $150.82 on Wednesday. The firm has a market capitalization of $243.77 billion, a PE ratio of 221.79, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. Advanced Micro Devices, Inc. has a 12-month low of $93.11 and a 12-month high of $227.30. The firm has a 50-day moving average price of $148.50 and a 200-day moving average price of $161.13. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating 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 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 posted $0.40 EPS. Advanced Micro Devices’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMD shares. Truist Financial dropped their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. TD Cowen upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Monday. BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald dropped their price target on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Wedbush reiterated an “outperform” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $193.45.

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.