Riverbend Wealth Management LLC Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Riverbend Wealth Management LLC purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,181 shares of the semiconductor manufacturer's stock, valued at approximately $505,000.

A number of other hedge funds have also recently bought and sold shares of the company. Bedell Frazier Investment Counselling LLC raised its position in Advanced Micro Devices by 4.3% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer's stock valued at $292,000 after buying an additional 74 shares during the period. NCM Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 0.9% in the 3rd quarter. NCM Capital Management LLC now owns 8,654 shares of the semiconductor manufacturer's stock valued at $1,420,000 after purchasing an additional 75 shares during the period. Pin Oak Investment Advisors Inc. lifted its position in shares of Advanced Micro Devices by 15.2% in the third quarter. Pin Oak Investment Advisors Inc. now owns 575 shares of the semiconductor manufacturer's stock worth $94,000 after purchasing an additional 76 shares in the last quarter. Bank of Marin lifted its position in shares of Advanced Micro Devices by 1.3% in the third quarter. Bank of Marin now owns 6,007 shares of the semiconductor manufacturer's stock worth $986,000 after purchasing an additional 80 shares in the last quarter. Finally, Northeast Financial Consultants Inc grew its position in Advanced Micro Devices by 2.9% during the third quarter. Northeast Financial Consultants Inc now owns 2,920 shares of the semiconductor manufacturer's stock valued at $479,000 after purchasing an additional 81 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, EVP Philip Guido acquired 4,645 shares of the business's stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the transaction, the executive vice president now directly owns 33,522 shares of the company's stock, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company's stock.

Advanced Micro Devices Trading Up 4.7 %

Advanced Micro Devices stock traded up $4.51 during mid-day trading on Wednesday, hitting $101.27. The stock had a trading volume of 22,040,475 shares, compared to its average volume of 39,473,551. The stock has a 50-day simple moving average of $113.39 and a two-hundred day simple moving average of $134.17. The stock has a market capitalization of $164.10 billion, a PE ratio of 102.27, a P/E/G ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a 12 month low of $94.73 and a 12 month high of $198.83. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMD. Bank of America cut their target price on shares of Advanced Micro Devices from $155.00 to $135.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Stifel Nicolaus cut their price objective on Advanced Micro Devices from $200.00 to $162.00 and set a "buy" rating for the company in a report on Wednesday, February 5th. KeyCorp lowered their target price on Advanced Micro Devices from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Finally, Wolfe Research cut Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

Advanced Micro Devices 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.