Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock Position Reduced by Perkins Capital Management Inc.

Perkins Capital Management Inc. trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,404 shares of the semiconductor manufacturer’s stock after selling 1,150 shares during the quarter. Advanced Micro Devices comprises about 3.3% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Perkins Capital Management Inc.’s holdings in Advanced Micro Devices were worth $3,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMD. Walkner Condon Financial Advisors LLC raised its holdings in shares of Advanced Micro Devices by 7.2% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 1,931 shares of the semiconductor manufacturer’s stock worth $317,000 after acquiring an additional 130 shares in the last quarter. Advisors Management Group Inc. ADV lifted its position in Advanced Micro Devices by 21.4% during the third quarter. Advisors Management Group Inc. ADV now owns 36,951 shares of the semiconductor manufacturer’s stock valued at $6,063,000 after purchasing an additional 6,519 shares during the last quarter. Advisor Resource Council purchased a new position in shares of Advanced Micro Devices in the 3rd quarter worth $743,000. Graypoint LLC increased its holdings in shares of Advanced Micro Devices by 1.8% in the 3rd quarter. Graypoint LLC now owns 13,010 shares of the semiconductor manufacturer’s stock worth $2,135,000 after buying an additional 233 shares during the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at about $522,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 2.4 %

AMD stock opened at $145.10 on Thursday. The stock has a market capitalization of $235.47 billion, a PE ratio of 130.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.71. Advanced Micro Devices, Inc. has a 52 week low of $111.22 and a 52 week high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $154.36 and a 200 day moving average of $155.56.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMD shares. Morgan Stanley reduced their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. UBS Group dropped their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Susquehanna reissued a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, Truist Financial dropped their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

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.