Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC increased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,839 shares of the semiconductor manufacturer’s stock after purchasing an additional 88 shares during the period. Advanced Micro Devices accounts for about 0.7% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding. Legacy Wealth Asset Management LLC’s holdings in Advanced Micro Devices were worth $2,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Tradewinds Capital Management LLC boosted its stake 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 period. ZRC Wealth Management LLC boosted its stake in Advanced Micro Devices by 90.4% in 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 boosted 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 acquiring an additional 85 shares during the period. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the second quarter valued at approximately $27,000. Finally, Semmax Financial Advisors Inc. boosted 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 acquiring an additional 139 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMD has been the subject of a number of recent analyst reports. Susquehanna reissued a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Morgan Stanley increased their price objective on Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. KeyCorp decreased their price objective on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Truist Financial decreased their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler increased their price objective on Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Advanced Micro Devices Price Performance

AMD opened at $156.23 on Friday. The stock has a fifty day moving average of $154.91 and a 200-day moving average of $156.41. The firm has a market capitalization of $252.52 billion, a P/E ratio of 229.75, a PEG ratio of 2.33 and a beta of 1.70. Advanced Micro Devices, Inc. has a 12-month low of $93.11 and a 12-month high of $227.30. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $5.84 billion during 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%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. 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 2.56 EPS for the current fiscal 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.