Chapin Davis Inc. Cuts Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Chapin Davis Inc. lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 86.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,668 shares of the semiconductor manufacturer’s stock after selling 10,595 shares during the period. Chapin Davis Inc.’s holdings in Advanced Micro Devices were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMD. Tradewinds Capital Management LLC raised its holdings in Advanced Micro Devices by 102.9% in the first quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares in the last quarter. Semmax Financial Advisors Inc. lifted its position in Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 139 shares during the last quarter. Valued Wealth Advisors LLC boosted its stake in Advanced Micro Devices by 70.7% in the first quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 70 shares in the last quarter. Chelsea Counsel Co. purchased a new position in Advanced Micro Devices in the first quarter worth $34,000. Finally, Northwest Bank & Trust Co acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $28,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

AMD stock traded up $1.20 during mid-day trading on Friday, reaching $148.56. 31,057,094 shares of the company’s stock were exchanged, compared to its average volume of 63,117,477. The company has a market cap of $240.12 billion, a price-to-earnings ratio of 218.47, a price-to-earnings-growth ratio of 1.79 and a beta of 1.69. Advanced Micro Devices, Inc. has a 12-month low of $93.11 and a 12-month high of $227.30. The stock’s 50 day moving average is $154.76 and its 200 day moving average is $165.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 1.92.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. On average, research analysts expect that Advanced Micro Devices, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 16,756 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMD. Cantor Fitzgerald dropped their target price on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI cut their price objective on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Bank of America decreased their price target on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.45.

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.