WT Asset Management Ltd Purchases Shares of 171,500 Advanced Micro Devices, Inc. (NASDAQ:AMD)

WT Asset Management Ltd acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 171,500 shares of the semiconductor manufacturer’s stock, valued at approximately $28,140,000. Advanced Micro Devices comprises 5.5% of WT Asset Management Ltd’s investment portfolio, making the stock its 10th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Silver Coast Investments LLC purchased a new position in shares of Advanced Micro Devices during the 3rd quarter valued at about $236,000. Nadler Financial Group Inc. raised its position in Advanced Micro Devices by 2.7% during the third quarter. Nadler Financial Group Inc. now owns 3,416 shares of the semiconductor manufacturer’s stock valued at $560,000 after acquiring an additional 90 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Advanced Micro Devices by 4.4% in the third quarter. New York State Common Retirement Fund now owns 2,417,645 shares of the semiconductor manufacturer’s stock valued at $396,687,000 after acquiring an additional 102,505 shares during the period. Focus Financial Network Inc. boosted its position in Advanced Micro Devices by 24.6% in the 3rd quarter. Focus Financial Network Inc. now owns 10,463 shares of the semiconductor manufacturer’s stock worth $1,717,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Advanced Micro Devices by 19.6% during the 3rd quarter. Stephens Inc. AR now owns 33,290 shares of the semiconductor manufacturer’s stock valued at $5,462,000 after purchasing an additional 5,449 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

AMD has been the subject of a number of analyst reports. Robert W. Baird dropped their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Barclays dropped their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday. Wedbush reiterated an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Bank of America restated a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock traded down $1.43 during trading hours on Friday, hitting $142.64. 15,809,153 shares of the company were exchanged, compared to its average volume of 56,599,137. The business has a 50-day moving average of $155.01 and a 200-day moving average of $155.94. Advanced Micro Devices, Inc. has a 1 year low of $105.91 and a 1 year high of $227.30. The company has a current ratio of 2.50, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $230.86 billion, a price-to-earnings ratio of 128.99, a P/E/G ratio of 2.03 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the business earned $0.53 EPS. The business’s revenue was up 17.6% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS 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.