46,722 Shares in Advanced Micro Devices, Inc. (NASDAQ:AMD) Purchased by SP Asset Management

SP Asset Management purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,722 shares of the semiconductor manufacturer’s stock, valued at approximately $5,109,000.

A number of other large investors have also recently made changes to their positions in AMD. Raymond James Trust N.A. bought a new stake in Advanced Micro Devices during the 4th quarter valued at about $559,000. Qube Research & Technologies Ltd raised its holdings in shares of Advanced Micro Devices by 0.9% in the 4th quarter. Qube Research & Technologies Ltd now owns 228,933 shares of the semiconductor manufacturer’s stock valued at $32,943,000 after purchasing an additional 2,069 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $383,000. Fifth Third Bancorp raised its holdings in shares of Advanced Micro Devices by 7.5% in the 4th quarter. Fifth Third Bancorp now owns 67,207 shares of the semiconductor manufacturer’s stock valued at $9,671,000 after purchasing an additional 4,668 shares in the last quarter. Finally, RFG Advisory LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $415,000. 69.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMD has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on shares of Advanced Micro Devices from $155.00 to $147.00 in a report on Wednesday, May 4th. UBS Group boosted their price target on shares of Advanced Micro Devices from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. KGI Securities upgraded shares of Advanced Micro Devices from a “neutral” rating to an “outperform” rating and set a $125.00 price target for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Benchmark boosted their price objective on shares of Advanced Micro Devices from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.93.

Advanced Micro Devices Stock Performance

Shares of AMD traded down $1.60 during trading hours on Friday, hitting $102.31. The stock had a trading volume of 93,859,876 shares, compared to its average volume of 87,556,992. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.44. The firm has a 50-day moving average price of $88.51 and a 200 day moving average price of $100.24. Advanced Micro Devices, Inc. has a fifty-two week low of $71.60 and a fifty-two week high of $164.46. The firm has a market capitalization of $165.16 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 0.94 and a beta of 1.96.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last posted its earnings results on Tuesday, August 2nd. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. Advanced Micro Devices had a net margin of 14.51% and a return on equity of 15.17%. During the same period in the previous year, the company posted $0.58 earnings per share. As a group, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.97 EPS for the current year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 32,694 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $76.99, for a total transaction of $2,517,111.06. Following the completion of the transaction, the executive vice president now directly owns 37,800 shares in the company, valued at $2,910,222. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 32,694 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $76.99, for a total transaction of $2,517,111.06. Following the completion of the transaction, the executive vice president now directly owns 37,800 shares in the company, valued at $2,910,222. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Devinder Kumar sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $102.44, for a total transaction of $2,048,800.00. Following the transaction, the chief financial officer now owns 504,370 shares of the company’s stock, valued at $51,667,662.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,660 shares of company stock worth $7,462,511. Company insiders own 1.00% of the company’s stock.

About Advanced Micro Devices

(Get Rating)

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

Further Reading

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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