Connors Investor Services Inc. Acquires 27,620 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Connors Investor Services Inc. increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 44.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,887 shares of the semiconductor manufacturer's stock after purchasing an additional 27,620 shares during the period. Advanced Micro Devices accounts for about 1.5% of Connors Investor Services Inc.'s investment portfolio, making the stock its 23rd largest holding. Connors Investor Services Inc.'s holdings in Advanced Micro Devices were worth $14,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake 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 purchasing an additional 4,138,612 shares during the last quarter. Capital World Investors boosted its holdings in shares of Advanced Micro Devices by 176.9% in the 4th quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer's stock worth $688,190,000 after acquiring an additional 2,982,704 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of 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 buying an additional 2,979,204 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 acquiring an additional 2,553,392 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Advanced Micro Devices by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer's stock worth $20,997,873,000 after buying an additional 2,390,558 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMD has been the subject of a number of recent analyst reports. Morgan Stanley upped 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. StockNews.com lowered Advanced Micro Devices from a "hold" rating to a "sell" rating in a report on Wednesday, July 31st. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. TD Cowen upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Monday. Finally, Edward Jones started coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $193.45.

Advanced Micro Devices Stock Down 0.8 %

Shares of AMD stock traded down $1.26 on Tuesday, reaching $150.82. 29,851,842 shares of the stock were exchanged, compared to its average volume of 60,340,242. The company has a market capitalization of $243.77 billion, a price-to-earnings ratio of 221.79, a PEG ratio of 2.04 and a beta of 1.69. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $148.50 and its 200 day moving average price is $161.13. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating 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 business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company's stock, valued at approximately $285,278,881.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company's stock.

Advanced Micro Devices Company Profile

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.