Advanced Micro Devices, Inc. $AMD Stock Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 604,283 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,500 shares during the period. Fisher Asset Management LLC’s holdings in Advanced Micro Devices were worth $369,676,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMD. SVB Wealth LLC increased its position in shares of Advanced Micro Devices by 35.8% during the 3rd quarter. SVB Wealth LLC now owns 10,963 shares of the semiconductor manufacturer’s stock valued at $6,707,000 after purchasing an additional 2,890 shares during the period. Legacy Trust lifted its holdings in shares of Advanced Micro Devices by 9.1% in the third quarter. Legacy Trust now owns 1,552 shares of the semiconductor manufacturer’s stock valued at $949,000 after buying an additional 130 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Advanced Micro Devices by 4.5% in the third quarter. Russell Investments Group Ltd. now owns 1,819,889 shares of the semiconductor manufacturer’s stock valued at $1,112,452,000 after buying an additional 78,136 shares during the period. Ariadne Wealth Management LP lifted its holdings in shares of Advanced Micro Devices by 15.9% in the third quarter. Ariadne Wealth Management LP now owns 650 shares of the semiconductor manufacturer’s stock valued at $398,000 after buying an additional 89 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in Advanced Micro Devices by 9.8% during the third quarter. Tortoise Investment Management LLC now owns 895 shares of the semiconductor manufacturer’s stock valued at $548,000 after buying an additional 80 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 5.9%

Shares of NASDAQ:AMD opened at $585.30 on Friday. The firm has a 50 day simple moving average of $552.99 and a 200 day simple moving average of $420.72. The company has a market cap of $959.94 billion, a PE ratio of 127.24, a price-to-earnings-growth ratio of 5.32 and a beta of 2.49. Advanced Micro Devices, Inc. has a 52 week low of $188.22 and a 52 week high of $658.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 2.72.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Advanced Micro Devices had a return on equity of 14.15% and a net margin of 16.77%. The business had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 44.7% compared to the same quarter last year. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 6.93 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In other news, EVP Jean X. Hu sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the transaction, the executive vice president directly owned 160,979 shares in the company, valued at $76,316,924.32. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $488.69, for a total value of $1,462,649.17. Following the completion of the transaction, the senior vice president owned 26,623 shares in the company, valued at $13,010,393.87. This trade represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 223,588 shares of company stock worth $111,208,302. 0.50% of the stock is currently owned by company insiders.

Key Stories Impacting Advanced Micro Devices

Investors following AMD have been watching these stories:

• Positive Sentiment: Bank of America raised its price target to $700 from $650 and maintained a Buy rating, citing AMD’s roadmap; William Blair also upgraded the stock to Outperform. Bank of America revises AMD target
• Positive Sentiment: AMD introduced its Instinct MI450X data-center GPU, broadening its AI chip offering. The company also expanded its PsiQuantum partnership and plans to invest in the quantum-computing firm, a longer-term opportunity. AMD unveils new AI GPU AMD PsiQuantum investment
• Neutral Sentiment: The competitive opening is not assured: Nvidia retains a substantial data-center position, and uncertainty at a rival does not itself guarantee AMD wins orders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMD shares. HSBC reaffirmed a “hold” rating and set a $540.00 target price on shares of Advanced Micro Devices in a report on Thursday, November 5th. Benchmark upped their price target on shares of Advanced Micro Devices from $485.00 to $685.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. TD Cowen reissued a “buy” rating on shares of Advanced Micro Devices in a report on Monday, October 19th. JPMorgan Chase & Co. raised their price objective on shares of Advanced Micro Devices from $550.00 to $575.00 and gave the company a “neutral” rating in a research report on Wednesday, November 4th. Finally, KeyCorp cut shares of Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $640.11.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc. (AMD) is a semiconductor company that designs processors, graphics products and adaptive computing solutions. Its products serve data center, personal computing, gaming, embedded and other markets. AMD is a fabless chip designer, relying on third-party manufacturing partners to produce its semiconductors. The company’s product portfolio includes EPYC server processors, Ryzen desktop and laptop processors, Radeon graphics products, Instinct accelerators for data center computing, and adaptive chips and systems used in embedded applications.