Jessup Wealth Management Inc Cuts Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Jessup Wealth Management Inc decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,719 shares of the semiconductor manufacturer’s stock after selling 19,834 shares during the quarter. Advanced Micro Devices accounts for approximately 4.5% of Jessup Wealth Management Inc’s holdings, making the stock its 3rd largest position. Jessup Wealth Management Inc’s holdings in Advanced Micro Devices were worth $10,418,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMD. Spartan Planning & Wealth Management acquired a new position in shares of Advanced Micro Devices in the 3rd quarter worth approximately $27,000. Northwest Bank & Trust Co bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth $28,000. Bare Financial Services Inc acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth $29,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $29,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $29,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of analyst reports. Susquehanna lifted their price target on Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Benchmark lowered their price objective on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Cantor Fitzgerald reduced their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. HSBC raised Advanced Micro Devices from a “hold” rating to a “buy” rating and upped their price target for the company from $180.00 to $225.00 in a research report on Tuesday, April 16th. Finally, Citigroup decreased their price objective on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $190.83.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded up $2.98 during mid-day trading on Friday, hitting $162.45. 38,081,223 shares of the company’s stock traded hands, compared to its average volume of 65,005,988. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $158.72 and a two-hundred day moving average of $164.71. The firm has a market capitalization of $262.57 billion, a price-to-earnings ratio of 238.33, a price-to-earnings-growth ratio of 1.82 and a beta of 1.69. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current fiscal year.

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.