Meridian Wealth Management LLC Makes New Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Meridian Wealth Management LLC bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 100,148 shares of the semiconductor manufacturer's stock, valued at approximately $16,432,000. Advanced Micro Devices comprises 0.8% of Meridian Wealth Management LLC's investment portfolio, making the stock its 19th largest position.

A number of other hedge funds have also recently made changes to their positions in AMD. EntryPoint Capital LLC raised its holdings in Advanced Micro Devices by 81.9% in the first quarter. EntryPoint Capital LLC now owns 342 shares of the semiconductor manufacturer's stock worth $62,000 after buying an additional 154 shares during the last quarter. Linscomb Wealth Inc. raised its holdings in Advanced Micro Devices by 8.6% in the 1st quarter. Linscomb Wealth Inc. now owns 13,115 shares of the semiconductor manufacturer's stock worth $2,367,000 after acquiring an additional 1,042 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Advanced Micro Devices by 70.6% in the 1st quarter. 1832 Asset Management L.P. now owns 137,102 shares of the semiconductor manufacturer's stock valued at $24,746,000 after acquiring an additional 56,736 shares in the last quarter. LRI Investments LLC purchased a new stake in Advanced Micro Devices during the 1st quarter valued at $338,000. Finally, Steel Grove Capital Advisors LLC bought a new stake in shares of Advanced Micro Devices in the 1st quarter worth $273,000. 71.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company's stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares of the company's stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Advanced Micro Devices Trading Up 0.6 %

AMD stock traded up $0.86 during trading on Friday, hitting $138.35. The company had a trading volume of 21,743,273 shares, compared to its average volume of 55,010,801. The firm has a market capitalization of $224.52 billion, a P/E ratio of 123.74, a PEG ratio of 1.93 and a beta of 1.71. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52-week low of $116.37 and a 52-week high of $227.30. The company has a 50 day simple moving average of $153.95 and a 200-day simple moving average of $154.70.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company's revenue was up 17.6% on a year-over-year basis. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMD shares. StockNews.com cut Advanced Micro Devices from a "hold" rating to a "sell" rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. BNP Paribas upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, July 31st. Truist Financial lowered their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a "hold" rating on the stock in a research report on Wednesday, July 31st. Finally, Robert W. Baird cut their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $192.79.

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.