Financial Advocates Investment Management Has $2.98 Million Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Financial Advocates Investment Management lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,158 shares of the semiconductor manufacturer’s stock after selling 450 shares during the quarter. Financial Advocates Investment Management’s holdings in Advanced Micro Devices were worth $2,979,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. ZRC Wealth Management LLC lifted its stake in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Morton Brown Family Wealth LLC lifted its stake in Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares during the period. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the second quarter valued at about $27,000. Semmax Financial Advisors Inc. lifted its stake in Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares during the period. Finally, Chelsea Counsel Co. acquired a new position in Advanced Micro Devices in the first quarter valued at about $34,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the topic of several analyst reports. Susquehanna reissued a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday. Bank of America reaffirmed a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday. Finally, BNP Paribas raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. One equities research 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 given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $148.60 on Thursday. The stock has a market cap of $240.18 billion, a P/E ratio of 218.53, a PEG ratio of 2.33 and a beta of 1.70. The stock has a 50 day simple moving average of $155.17 and a 200 day simple moving average of $156.03. 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, Inc. has a 1-year low of $94.07 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. Research analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

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.