Malaga Cove Capital LLC Sells 3,103 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Malaga Cove Capital LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,973 shares of the semiconductor manufacturer’s stock after selling 3,103 shares during the period. Advanced Micro Devices comprises 1.6% of Malaga Cove Capital LLC’s holdings, making the stock its 11th largest holding. Malaga Cove Capital LLC’s holdings in Advanced Micro Devices were worth $4,098,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AMD. Cherrydale Wealth Management LLC raised its position in shares of Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after acquiring an additional 58 shares during the period. Christopher J. Hasenberg Inc raised its holdings in Advanced Micro Devices by 12.0% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after purchasing an additional 60 shares during the period. Delta Financial Group Inc. raised its holdings in Advanced Micro Devices by 5.0% in the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after purchasing an additional 63 shares during the period. Trivant Custom Portfolio Group LLC boosted its position in Advanced Micro Devices by 0.3% during the second quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock worth $3,995,000 after purchasing an additional 65 shares in the last quarter. Finally, Wealth Effects LLC grew its holdings in Advanced Micro Devices by 0.7% in the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 65 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

AMD opened at $145.10 on Thursday. The stock’s 50-day moving average price is $154.36 and its 200 day moving average price is $155.56. Advanced Micro Devices, Inc. has a 12-month low of $111.22 and a 12-month high of $227.30. The firm has a market cap of $235.47 billion, a price-to-earnings ratio of 130.72, a PEG ratio of 1.96 and a beta of 1.71. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Wall Street Analyst Weigh In

AMD has been the topic of several recent analyst reports. Bank of America reaffirmed a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 3rd. UBS Group decreased their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. Susquehanna reissued a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Morgan Stanley lowered their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.