Lynch Asset Management Inc. Has $5.77 Million Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Lynch Asset Management Inc. boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,175 shares of the semiconductor manufacturer’s stock after buying an additional 2,500 shares during the quarter. Advanced Micro Devices comprises 2.4% of Lynch Asset Management Inc.’s portfolio, making the stock its 11th biggest holding. Lynch Asset Management Inc.’s holdings in Advanced Micro Devices were worth $5,772,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Advanced Micro Devices by 59.9% in 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 purchasing an additional 116,020 shares during the last quarter. Chapin Davis Inc. grew its position in shares of Advanced Micro Devices by 613.4% in the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after purchasing an additional 10,544 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Advanced Micro Devices by 15.7% in 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 bought a new stake in shares of Advanced Micro Devices in the third quarter valued at about $2,394,000. Finally, Sycomore Asset Management lifted its stake in shares of Advanced Micro Devices by 28.6% in 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 institutional investors and hedge funds.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded up $2.79 during midday trading on Friday, reaching $156.23. The company had a trading volume of 29,758,489 shares, compared to its average volume of 56,739,516. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $252.52 billion, a price-to-earnings ratio of 229.75, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The stock has a fifty day simple moving average of $155.06 and a 200 day simple moving average of $156.21. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly 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. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 7th. Morgan Stanley increased their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup increased their target price on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Robert W. Baird reduced their target price on shares of 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, StockNews.com cut shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

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.