Petredis Investment Advisors LLC Has $10.33 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Petredis Investment Advisors LLC decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,982 shares of the semiconductor manufacturer’s stock after selling 395 shares during the period. Advanced Micro Devices accounts for approximately 1.1% of Petredis Investment Advisors LLC’s portfolio, making the stock its 21st biggest position. Petredis Investment Advisors LLC’s holdings in Advanced Micro Devices were worth $10,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after buying an additional 2,349,288 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after purchasing an additional 188,580 shares during the period. Van ECK Associates Corp lifted its position in shares of Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares during the last quarter. GQG Partners LLC lifted its position in shares of Advanced Micro Devices by 5.0% during the 1st quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after purchasing an additional 382,582 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Advanced Micro Devices by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,495,184 shares of the semiconductor manufacturer’s stock worth $1,215,998,000 after purchasing an additional 707,705 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMD shares. Truist Financial cut their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Robert W. Baird cut their price objective on 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Monday, October 7th. One equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Advanced Micro Devices Trading Down 5.2 %

Shares of AMD opened at $156.64 on Wednesday. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. 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 stock has a 50 day simple moving average of $152.48 and a 200-day simple moving average of $157.15. The stock has a market cap of $253.18 billion, a PE ratio of 230.35, a PEG ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. Advanced Micro Devices’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

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.