Cookson Peirce & Co. Inc. Takes $32.95 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cookson Peirce & Co. Inc. purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 223,509 shares of the semiconductor manufacturer’s stock, valued at approximately $32,947,000. Advanced Micro Devices makes up about 2.0% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds also recently made changes to their positions in the business. Peoples Bank KS bought a new stake in Advanced Micro Devices during the third quarter worth approximately $26,000. Spartan Planning & Wealth Management acquired a new position in Advanced Micro Devices in the third quarter worth approximately $27,000. Castleview Partners LLC grew its position in Advanced Micro Devices by 62.5% in the second quarter. Castleview Partners LLC now owns 234 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 90 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new position in Advanced Micro Devices in the third quarter worth approximately $31,000. Finally, Raleigh Capital Management Inc. grew its position in Advanced Micro Devices by 54.8% in the third quarter. Raleigh Capital Management Inc. now owns 308 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 109 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AMD shares. Bank of America lifted their price target on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, January 30th. Raymond James cut shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the stock from $190.00 to $195.00 in a research report on Tuesday, January 30th. Citigroup lifted their price objective on shares of Advanced Micro Devices from $136.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Truist Financial lifted their price objective on shares of Advanced Micro Devices from $154.00 to $174.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.15.

Insiders Place Their Bets

In other news, Director Joseph A. Householder sold 6,572 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the completion of the transaction, the director now owns 2,197 shares of the company’s stock, valued at $457,151.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the sale, the insider now owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph A. Householder sold 6,572 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the completion of the sale, the director now directly owns 2,197 shares in the company, valued at approximately $457,151.76. The disclosure for this sale can be found here. Insiders sold a total of 324,943 shares of company stock valued at $59,919,994 in the last quarter. Insiders own 0.65% of the company’s stock.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded up $2.97 on Tuesday, reaching $163.29. 44,642,506 shares of the stock were exchanged, compared to its average volume of 74,793,734. The stock has a market cap of $263.90 billion, a PE ratio of 313.95, a PEG ratio of 2.49 and a beta of 1.64. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a twelve month low of $81.02 and a twelve month high of $227.30. The firm has a fifty day moving average price of $180.87 and a two-hundred day moving average price of $147.77.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. Sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.63 EPS for the current 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.