Smith Salley Wealth Management Increases Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Smith Salley Wealth Management grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.9% during the second quarter, HoldingsChannel reports. The fund owned 2,415 shares of the semiconductor manufacturer’s stock after purchasing an additional 198 shares during the period. Smith Salley Wealth Management’s holdings in Advanced Micro Devices were worth $392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMD. Tradewinds Capital Management LLC lifted its position in Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 71 shares during the last quarter. Northwest Bank & Trust Co purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Semmax Financial Advisors Inc. boosted its position in shares of Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 139 shares during the period. Bare Financial Services Inc purchased a new position in Advanced Micro Devices during the 4th quarter worth approximately $29,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on AMD. Bank of America decreased their price objective on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Citigroup raised their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Edward Jones began coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Wells Fargo & Company raised their price target on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, Barclays reduced their price objective on Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Price Performance

NASDAQ AMD traded up $3.07 during mid-day trading on Friday, hitting $148.56. The stock had a trading volume of 31,139,878 shares, compared to its average volume of 62,049,219. The company has a 50 day simple moving average of $153.56 and a 200 day simple moving average of $164.27. The company has a market cap of $240.12 billion, a price-to-earnings ratio of 218.47, a P/E/G ratio of 1.79 and a beta of 1.69. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30. The company has a quick ratio of 1.92, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. Advanced Micro Devices’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.58 EPS for the current fiscal year.

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.