Lazard Asset Management LLC Lowers Holdings in Advanced Micro Devices, Inc. $AMD

Lazard Asset Management LLC lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,606,202 shares of the semiconductor manufacturer’s stock after selling 29,988 shares during the period. Lazard Asset Management LLC’s holdings in Advanced Micro Devices were worth $227,918,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. grew its stake in shares of Advanced Micro Devices by 81.0% in the second quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares in the last quarter. Dogwood Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 2,311.1% in the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock valued at $30,000 after acquiring an additional 208 shares in the last quarter. Avion Wealth boosted its holdings in Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock valued at $30,000 after purchasing an additional 72 shares during the period. West Branch Capital LLC boosted its holdings in Advanced Micro Devices by 3,057.1% in the second quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 214 shares during the period. Finally, Semmax Financial Advisors Inc. grew its stake in Advanced Micro Devices by 115.1% during the 1st quarter. Semmax Financial Advisors Inc. now owns 370 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 198 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AMD shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Advanced Micro Devices in a research report on Monday. Susquehanna restated a “positive” rating and set a $300.00 target price on shares of Advanced Micro Devices in a research note on Friday, October 31st. HSBC raised their target price on shares of Advanced Micro Devices from $185.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. TD Cowen boosted their price target on shares of Advanced Micro Devices from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $300.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.54.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $210.78 on Friday. The company has a market capitalization of $343.16 billion, a price-to-earnings ratio of 104.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $267.08. The company has a quick ratio of 1.68, a current ratio of 2.31 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $231.11 and a 200 day moving average price of $179.11.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The business had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The company’s revenue was up 35.6% compared to the same quarter last year. Research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, SVP Ava Hahn sold 2,868 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $226.01, for a total value of $648,196.68. Following the completion of the sale, the senior vice president directly owned 9,033 shares of the company’s stock, valued at $2,041,548.33. The trade was a 24.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 17,108 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the completion of the transaction, the executive vice president owned 1,714,505 shares of the company’s stock, valued at $411,686,940.60. This represents a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 183,476 shares of company stock valued at $40,249,093 over the last quarter. 0.06% of the stock is owned by insiders.

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.