Worth Asset Management LLC Purchases New Holdings in Advanced Micro Devices, Inc. $AMD

Worth Asset Management LLC acquired a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,811 shares of the semiconductor manufacturer’s stock, valued at approximately $1,426,000.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock valued at $5,551,000 after acquiring an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after purchasing an additional 234 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Advanced Micro Devices by 114.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 4,077 shares of the semiconductor manufacturer’s stock valued at $419,000 after purchasing an additional 2,178 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Advanced Micro Devices during the first quarter worth about $66,000. Finally, Canada Pension Plan Investment Board grew its stake in Advanced Micro Devices by 55.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,674,081 shares of the semiconductor manufacturer’s stock worth $171,995,000 after purchasing an additional 598,481 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.14, for a total value of $26,892,500.00. Following the sale, the chief executive officer owned 3,277,476 shares in the company, valued at approximately $705,116,186.64. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 19,450 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $229.37, for a total value of $4,461,246.50. Following the sale, the executive vice president directly owned 300,348 shares in the company, valued at approximately $68,890,820.76. This trade represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 181,226 shares of company stock worth $39,877,820 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AMD has been the topic of several research reports. Evercore ISI upped their price objective on Advanced Micro Devices from $270.00 to $283.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. KGI Securities set a $260.00 price target on Advanced Micro Devices and gave the company an “outperform” rating in a report on Monday, October 13th. Piper Sandler restated an “overweight” rating and set a $280.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. HSBC lifted their price objective on shares of Advanced Micro Devices from $185.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, CICC Research upgraded shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $265.00 target price for the company in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $277.06.

Advanced Micro Devices Price Performance

Shares of AMD opened at $214.99 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $267.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68. The stock has a fifty day moving average price of $228.40 and a 200 day moving average price of $186.14. The company has a market cap of $350.01 billion, a P/E ratio of 106.43, a PEG ratio of 1.59 and a beta of 1.93.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The company had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.