Salem Investment Counselors Inc. Grows Stock Holdings in Advanced Micro Devices, Inc. $AMD

Salem Investment Counselors Inc. grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 265,783 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,083 shares during the period. Advanced Micro Devices makes up 1.2% of Salem Investment Counselors Inc.’s holdings, making the stock its 15th biggest holding. Salem Investment Counselors Inc.’s holdings in Advanced Micro Devices were worth $43,001,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.5% in the second quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock valued at $21,944,673,000 after purchasing an additional 2,281,508 shares during the last quarter. State Street Corp boosted its holdings in shares of Advanced Micro Devices by 0.8% in the 2nd quarter. State Street Corp now owns 72,069,259 shares of the semiconductor manufacturer’s stock valued at $10,226,628,000 after buying an additional 581,330 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock valued at $5,181,556,000 after buying an additional 514,445 shares in the last quarter. Norges Bank purchased a new position in shares of Advanced Micro Devices in the 2nd quarter valued at $3,094,662,000. Finally, Amundi raised its stake in Advanced Micro Devices by 8.0% during the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock worth $1,677,014,000 after acquiring an additional 1,319,064 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Ava Hahn sold 2,868 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $226.01, for a total transaction of $648,196.68. Following the sale, the senior vice president owned 9,033 shares of the company’s stock, valued at approximately $2,041,548.33. The trade was a 24.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 19,450 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $229.37, for a total transaction of $4,461,246.50. Following the completion of the transaction, the executive vice president directly owned 300,348 shares of the company’s stock, valued at approximately $68,890,820.76. This trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 183,476 shares of company stock valued at $40,249,093 in the last three months. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMD has been the topic of several research reports. TD Cowen raised their price objective on Advanced Micro Devices from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Cantor Fitzgerald set a $300.00 target price on shares of Advanced Micro Devices in a research report on Tuesday. The Goldman Sachs Group upped their price target on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Seaport Res Ptn cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Wedbush restated an “outperform” rating and issued a $290.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.11.

Advanced Micro Devices Stock Up 0.8%

Shares of NASDAQ:AMD opened at $209.17 on Wednesday. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two 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 firm’s 50-day simple moving average is $231.14 and its 200-day simple moving average is $181.40. The company has a market cap of $340.54 billion, a price-to-earnings ratio of 103.55, a PEG ratio of 1.54 and a beta of 1.93.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) 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 firm had revenue of $9.25 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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.