Covea Finance Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Covea Finance grew its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 36.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 179,203 shares of the semiconductor manufacturer’s stock after acquiring an additional 47,533 shares during the quarter. Advanced Micro Devices makes up about 1.3% of Covea Finance’s holdings, making the stock its 28th biggest holding. Covea Finance’s holdings in Advanced Micro Devices were worth $29,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMD. Perfromance Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 0.6% in the 3rd quarter. Perfromance Wealth Partners LLC now owns 16,663 shares of the semiconductor manufacturer’s stock worth $2,734,000 after purchasing an additional 107 shares during the period. First Affirmative Financial Network lifted its holdings in shares of Advanced Micro Devices by 30.3% during the 3rd quarter. First Affirmative Financial Network now owns 3,880 shares of the semiconductor manufacturer’s stock valued at $637,000 after buying an additional 902 shares during the period. RFG Holdings Inc. grew its stake in shares of Advanced Micro Devices by 13.1% during the 3rd quarter. RFG Holdings Inc. now owns 3,935 shares of the semiconductor manufacturer’s stock valued at $646,000 after purchasing an additional 456 shares during the period. Valeo Financial Advisors LLC lifted its position in shares of Advanced Micro Devices by 2.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 20,959 shares of the semiconductor manufacturer’s stock valued at $3,439,000 after buying an additional 483 shares in the last quarter. Finally, Arbor Wealth Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the third quarter worth $250,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded up $3.71 during trading on Friday, hitting $167.89. 42,136,175 shares of the company were exchanged, compared to its average volume of 58,067,195. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30. The stock has a 50 day moving average of $151.34 and a 200 day moving average of $157.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The company has a market cap of $271.73 billion, a PE ratio of 204.75, a P/E/G ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the company earned $0.40 EPS. The company’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMD. Piper Sandler increased their price target on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Robert W. Baird decreased their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley lifted their price target on Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Citigroup increased their price target on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

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.