Bank Pictet & Cie Europe AG Sells 1,808 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bank Pictet & Cie Europe AG decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 234,749 shares of the semiconductor manufacturer’s stock after selling 1,808 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Advanced Micro Devices were worth $38,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Annex Advisory Services LLC purchased a new position in Advanced Micro Devices during the first quarter valued at $201,000. Sound Income Strategies LLC increased its stake in shares of Advanced Micro Devices by 15.0% in the 1st quarter. Sound Income Strategies LLC now owns 582 shares of the semiconductor manufacturer’s stock worth $105,000 after acquiring an additional 76 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Advanced Micro Devices by 15.3% during the 1st quarter. Sunbelt Securities Inc. now owns 6,169 shares of the semiconductor manufacturer’s stock valued at $1,113,000 after acquiring an additional 818 shares during the period. Sovereign Financial Group Inc. boosted its stake in Advanced Micro Devices by 30.7% during the first quarter. Sovereign Financial Group Inc. now owns 3,165 shares of the semiconductor manufacturer’s stock worth $571,000 after acquiring an additional 744 shares in the last quarter. Finally, TrueMark Investments LLC grew its holdings in Advanced Micro Devices by 13.5% in the first quarter. TrueMark Investments LLC now owns 15,478 shares of the semiconductor manufacturer’s stock worth $2,794,000 after purchasing an additional 1,846 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Edward Jones initiated coverage on Advanced Micro Devices in a research report on Tuesday, August 20th. They issued a “buy” rating on the stock. Robert W. Baird reduced their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. TD Cowen raised Advanced Micro Devices to a “strong-buy” rating in a research report on Monday, September 16th. Roth Mkm reissued a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Finally, StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD opened at $154.09 on Wednesday. The stock has a market cap of $249.06 billion, a PE ratio of 226.60, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. The firm has a fifty day moving average price of $154.54 and a 200-day moving average price of $156.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the business posted $0.40 EPS. Advanced Micro Devices’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 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.