Advanced Micro Devices, Inc. (NASDAQ:AMD) Stake Increased by Carnegie Investment Counsel

Carnegie Investment Counsel increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 28.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,169 shares of the semiconductor manufacturer’s stock after buying an additional 8,885 shares during the period. Carnegie Investment Counsel’s holdings in Advanced Micro Devices were worth $6,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raleigh Capital Management Inc. boosted its holdings in Advanced Micro Devices by 79.2% in the fourth quarter. Raleigh Capital Management Inc. now owns 552 shares of the semiconductor manufacturer’s stock worth $81,000 after purchasing an additional 244 shares during the period. Scarborough Advisors LLC acquired a new position in Advanced Micro Devices in the fourth quarter worth $42,000. Northwest Bank & Trust Co acquired a new position in Advanced Micro Devices in the fourth quarter worth $28,000. Tucker Asset Management LLC boosted its holdings in Advanced Micro Devices by 32.1% in the fourth quarter. Tucker Asset Management LLC now owns 453 shares of the semiconductor manufacturer’s stock worth $67,000 after purchasing an additional 110 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter valued at $1,207,000. Institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMD shares. Morgan Stanley boosted their price target on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays reduced their price target on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, July 29th. Robert W. Baird reduced their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. BNP Paribas raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Advanced Micro Devices Trading Up 2.3 %

NASDAQ:AMD opened at $167.89 on Monday. The stock’s 50 day moving average price is $151.34 and its 200 day moving average price is $157.42. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30. The company has a market capitalization of $271.36 billion, a P/E ratio of 246.90, a P/E/G ratio of 2.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

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.