Pinnacle Wealth Management LLC Purchases New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pinnacle Wealth Management LLC acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 18,929 shares of the semiconductor manufacturer’s stock, valued at approximately $2,156,000. Advanced Micro Devices accounts for 2.2% of Pinnacle Wealth Management LLC’s holdings, making the stock its 14th biggest position.

A number of other large investors have also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich boosted its position in Advanced Micro Devices by 411,469.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 471,880,586 shares of the semiconductor manufacturer’s stock valued at $53,751,918,000 after acquiring an additional 471,765,932 shares in the last quarter. Norges Bank bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $1,252,070,000. Wellington Management Group LLP grew its stake in Advanced Micro Devices by 123.6% in the first quarter. Wellington Management Group LLP now owns 20,254,885 shares of the semiconductor manufacturer’s stock worth $1,985,181,000 after purchasing an additional 11,195,952 shares during the period. Jennison Associates LLC grew its stake in Advanced Micro Devices by 57.3% in the second quarter. Jennison Associates LLC now owns 25,591,636 shares of the semiconductor manufacturer’s stock worth $2,915,143,000 after purchasing an additional 9,318,871 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in Advanced Micro Devices by 7,396,755.9% in the first quarter. Baillie Gifford & Co. now owns 8,728,290 shares of the semiconductor manufacturer’s stock worth $855,460,000 after purchasing an additional 8,728,172 shares in the last quarter. 68.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMD. StockNews.com initiated coverage on shares of Advanced Micro Devices in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Wedbush lowered their target price on shares of Advanced Micro Devices from $155.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, November 1st. Citigroup upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and upped their price target for the stock from $120.00 to $136.00 in a research note on Wednesday, August 2nd. Roth Mkm initiated coverage on Advanced Micro Devices in a research report on Tuesday, November 14th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Raymond James dropped their target price on Advanced Micro Devices from $145.00 to $125.00 and set a “strong-buy” rating on the stock in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $134.77.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock traded up $0.79 during trading hours on Friday, reaching $120.62. 38,538,695 shares of the stock traded hands, compared to its average volume of 62,236,375. The company has a 50 day moving average price of $105.41 and a 200 day moving average price of $109.12. Advanced Micro Devices, Inc. has a one year low of $60.05 and a one year high of $132.83. The company has a quick ratio of 1.61, a current ratio of 2.19 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $192.99 billion, a price-to-earnings ratio of 1,005.17, a P/E/G ratio of 6.27 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 31st. The semiconductor manufacturer reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.70 billion. Advanced Micro Devices had a net margin of 0.94% and a return on equity of 5.61%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lisa T. Su sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $105.40, for a total value of $7,905,000.00. Following the transaction, the chief executive officer now owns 3,358,721 shares of the company’s stock, valued at $354,009,193.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Advanced Micro Devices news, CEO Lisa T. Su sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $105.40, for a total value of $7,905,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,358,721 shares in the company, valued at $354,009,193.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul Darren Grasby sold 14,942 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $106.21, for a total transaction of $1,586,989.82. Following the completion of the sale, the executive vice president now directly owns 103,663 shares of the company’s stock, valued at $11,010,047.23. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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.