Chartwell Investment Partners LLC Acquires 40,290 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Chartwell Investment Partners LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 48.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,713 shares of the semiconductor manufacturer’s stock after purchasing an additional 40,290 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Advanced Micro Devices were worth $6,456,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Whittier Trust Co. raised its holdings in shares of Advanced Micro Devices by 58.2% in the 2nd quarter. Whittier Trust Co. now owns 503 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 185 shares in the last quarter. Trustcore Financial Services LLC raised its holdings in shares of Advanced Micro Devices by 54.4% in the 2nd quarter. Trustcore Financial Services LLC now owns 531 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 187 shares in the last quarter. Executive Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 0.9% in the 2nd quarter. Executive Wealth Management LLC now owns 21,896 shares of the semiconductor manufacturer’s stock worth $1,151,000 after buying an additional 190 shares in the last quarter. Smithfield Trust Co. raised its holdings in shares of Advanced Micro Devices by 23.0% in the 1st quarter. Smithfield Trust Co. now owns 1,052 shares of the semiconductor manufacturer’s stock worth $48,000 after buying an additional 197 shares in the last quarter. Finally, Charter Trust Co. increased its holdings in Advanced Micro Devices by 2.2% during the 1st quarter. Charter Trust Co. now owns 9,390 shares of the semiconductor manufacturer’s stock valued at $427,000 after purchasing an additional 199 shares in the last quarter. Institutional investors own 69.37% of the company’s stock.

A number of equities research analysts recently weighed in on AMD shares. Cfra raised their price target on Advanced Micro Devices from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America lifted their target price on Advanced Micro Devices from $65.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Deutsche Bank lifted their target price on Advanced Micro Devices from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, July 27th. Piper Sandler lifted their target price on Advanced Micro Devices from $60.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Advanced Micro Devices from $52.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.97.

In related news, CEO Lisa T. Su sold 150,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $55.43, for a total value of $8,314,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,753,670 shares in the company, valued at $152,635,928.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Forrest Eugene Norrod sold 75,000 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $55.25, for a total value of $4,143,750.00. Following the completion of the sale, the senior vice president now owns 752,100 shares of the company’s stock, valued at $41,553,525. The disclosure for this sale can be found here. Insiders have sold 461,000 shares of company stock valued at $25,381,930 over the last quarter. Company insiders own 1.50% of the company’s stock.

NASDAQ AMD traded down $0.77 on Friday, hitting $77.43. 71,699,667 shares of the company’s stock were exchanged, compared to its average volume of 71,531,392. The stock has a 50-day moving average of $56.61 and a 200-day moving average of $51.94. The company has a current ratio of 2.10, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. Advanced Micro Devices, Inc. has a 52 week low of $27.43 and a 52 week high of $78.96. The stock has a market cap of $90.91 billion, a price-to-earnings ratio of 146.10, a P/E/G ratio of 2.05 and a beta of 2.14.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. Advanced Micro Devices had a return on equity of 28.66% and a net margin of 7.96%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 26.1% on a year-over-year basis. As a group, analysts predict that Advanced Micro Devices, Inc. will post 0.83 earnings per share for the current year.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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