Tower Bridge Advisors Lowers Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Tower Bridge Advisors reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,750 shares of the semiconductor manufacturer’s stock after selling 500 shares during the quarter. Tower Bridge Advisors’ holdings in Advanced Micro Devices were worth $615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMD. Creative Capital Management Investments LLC boosted its position in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC boosted its position in Advanced Micro Devices by 90.4% during the 3rd 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 in the last quarter. Morton Brown Family Wealth LLC boosted its position in Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC bought a new stake in Advanced Micro Devices during the 2nd quarter valued at approximately $27,000. Finally, Semmax Financial Advisors Inc. boosted its position in Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 139 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMD has been the topic of several research reports. UBS Group cut their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Citigroup lowered their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Bank of America reiterated a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned 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.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Trading Down 2.8 %

NASDAQ:AMD opened at $134.90 on Monday. Advanced Micro Devices, Inc. has a 12 month low of $116.37 and a 12 month high of $227.30. The company has a 50 day simple moving average of $154.51 and a two-hundred day simple moving average of $155.08. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $218.92 billion, a PE ratio of 121.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Company Profile

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.