Cornerstone Wealth Management LLC Increases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cornerstone Wealth Management LLC raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report ) by 16.3% in the 1st quarter, according to the company’s latest filing with the Securities & Exchange Commission. The fund now owns 6,081 shares of the semiconductor maker after acquiring an additional 854 shares during the period. Cornerstone Wealth Management LLC’s stake in Advanced Micro Devices was worth $1,098,000, according to the company’s latest filing with the SEC.

Several other hedge funds also recently added to or decreased their holdings in AMD. Kovack Advisors Inc. increased its holdings in shares of Advanced Micro Devices by 45.7% in the first quarter. Kovack Advisors Inc. now owns 26,628 shares of the semiconductor maker’s stock worth $4,806,000 after acquiring an additional 8,357 shares in the last quarter. DMC Group LLC increased its holdings in Advanced Micro Devices by 8.4% in the first quarter. DMC Group LLC now owns 12,610 shares of the semiconductor maker’s stock worth $2,276,000 after acquiring an additional 974 shares in the last quarter. Madrona Financial Services LLC acquired a new position in Advanced Micro Devices in the first quarter worth about $233,000. Norden Group LLC increased its holdings in shares of Advanced Micro Devices by 1,888.2% in the first quarter. Norden Group LLC now owns 81,060 shares of the semiconductor maker’s stock worth $14,631,000 after purchasing an additional 76,983 shares during the last quarter. Finally, Community Bank & Trust Waco Texas increased its holdings in shares of Advanced Micro Devices by 61.2% during the first quarter. Community Bank & Trust Waco Texas now owns 11,494 shares of the semiconductor maker’s stock worth $2,075,000 after purchasing an additional 4,364 shares during the period. Institutional investors and hedge funds own 71.34% of the stock.

Advanced micro device sales fall 0.2%

Shares of Advanced Micro Devices opened at $163.90 on Friday. The company has a market capitalization of $264.91 billion, a P/E ratio of 241.03, a P/E/G ratio of 1.90 and a beta of 1.68. The company has a current ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30. The company’s 50 day moving average is $159.99 and its 200 day moving average is $165.53.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its financial results on Tuesday, April 30. The semiconductor maker reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company’s revenue for the quarter increased 2.2% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.43. Analysts are predicting that Advanced Micro Devices, Inc. will post earnings per share of $2.61 for the current year.

Buying and selling confidential information

In other news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Friday, June 14. The shares were sold at an average price of $158.94, for a total transaction value of $2,574,828.00. Following the completion of 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 legal filing with the SEC, which can be found at this link . Corporate insiders own 0.65% of the company’s stock.

Analysts set new price targets

Several analysts have recently commented on the company. Truist Financial lowered their price target on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, May 1. Susquehanna raised their price target on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “positive” rating in a research note on Monday, June 10. Piper Sandler reiterated an “overweight” rating and issued a $175.00 price target (up from $195.00 previously) on shares of Advanced Micro Devices in a research note on Wednesday, May 1. Mizuho lowered their price target on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1. Finally, Evercore ISI lowered their price target on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1. One research analyst rated the stock a “sell,” three gave a “hold” rating, and twenty-seven gave the company a “buy” rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $190.83.

Read our latest AMD analysis

Advanced Micro Devices Company Profile

(Free report)

Advanced Micro Devices, Inc. operates as a global semiconductor company. 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, as well as semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technologies, data processing units, field programmable gate arrays (FPGAs), and adaptive SoC products.

Advanced micro device sales fall 0.2%

Buying and selling confidential information

Analysts set new price targets

Advanced Micro Devices Company Profile

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