Advanced Micro Devices, Inc. $AMD Stock: Fisher Asset Management LLC Increases Stake

Fisher Asset Management LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 604,283 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,500 shares during the quarter. Fisher Asset Management LLC’s holdings in Advanced Micro Devices were worth $369,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. DecisionPoint Financial LLC increased its position in Advanced Micro Devices by 79.2% during the third quarter. DecisionPoint Financial LLC now owns 43 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 19 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Advanced Micro Devices during the 3rd quarter worth about $29,000. JNBA Financial Advisors increased its holdings in shares of Advanced Micro Devices by 142.9% during the 2nd quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Graney & King LLC bought a new position in shares of Advanced Micro Devices during the 1st quarter worth about $31,000. Finally, Main Street Group LTD acquired a new position in shares of Advanced Micro Devices during the first quarter valued at about $33,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 5.9%

AMD opened at $585.30 on Friday. The firm has a market cap of $959.94 billion, a price-to-earnings ratio of 127.24, a PEG ratio of 5.32 and a beta of 2.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 2.72. The firm’s 50-day simple moving average is $552.99 and its 200-day simple moving average is $420.72. Advanced Micro Devices, Inc. has a twelve month low of $188.22 and a twelve month high of $658.52.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. Advanced Micro Devices had a net margin of 16.77% and a return on equity of 14.15%. The firm had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $13.10 billion. The firm’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 6.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMD has been the subject of several research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $649.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. The Goldman Sachs Group restated a “buy” rating and set a $675.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, November 4th. Oppenheimer upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $600.00 price target on the stock in a research note on Monday. UBS Group reduced their price objective on Advanced Micro Devices from $730.00 to $700.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. Finally, Wall Street Zen raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Sunday, November 8th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $640.11.

Top Advanced Micro Devices Stories

Here are a few of the latest stories about AMD:

• 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
• Positive Sentiment: Reports of Nvidia CEO Jensen Huang’s resignation and the ensuing uncertainty prompted investors to rotate toward rival chipmakers, potentially giving AMD an opportunity to capture market share. Nvidia turmoil and AMD

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 that occurred on Tuesday, August 25th. The stock was sold at an average price of $474.08, for a total value of $7,111,200.00. Following the transaction, the executive vice president directly owned 160,979 shares of the company’s stock, valued at $76,316,924.32. The trade was a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 28,811 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total value of $13,595,046.57. Following the sale, the executive vice president owned 1,261,461 shares in the company, valued at approximately $595,245,602.07. This trade represents a 2.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 223,588 shares of company stock valued at $111,208,302. Insiders own 0.50% of the company’s stock.

About Advanced Micro Devices

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.