Zega Financial LLC Cuts Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Zega Financial LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,776 shares of the semiconductor manufacturer’s stock after selling 380 shares during the quarter. Zega Financial LLC’s holdings in Advanced Micro Devices were worth $1,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Advanced Micro Devices by 813.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after buying an additional 4,138,612 shares in the last quarter. Capital World Investors lifted its position in Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock valued at $688,190,000 after acquiring an additional 2,982,704 shares during the last quarter. Van ECK Associates Corp boosted its stake in Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after purchasing an additional 2,553,392 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock worth $20,997,873,000 after purchasing an additional 2,390,558 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Trading Down 0.8 %

AMD stock opened at $150.82 on Wednesday. The company’s 50-day simple moving average is $148.50 and its 200-day simple moving average is $161.13. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The firm has a market cap of $243.77 billion, a P/E ratio of 221.79, a PEG ratio of 2.04 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.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMD. Wedbush restated an “outperform” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. KeyCorp dropped their price target on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley increased their price objective on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Monday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $193.45.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

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.