BI Asset Management Fondsmaeglerselskab A S Buys 175,700 Shares of Advanced Micro Devices, Inc. $AMD

by · The Markets Daily

BI Asset Management Fondsmaeglerselskab A S increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 216.1% during the second quarter, Holdings Channel.com reports. The fund owned 256,990 shares of the semiconductor manufacturer’s stock after buying an additional 175,700 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Advanced Micro Devices were worth $36,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Advanced Micro Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock valued at $21,944,673,000 after purchasing an additional 2,281,508 shares during the last quarter. State Street Corp lifted its holdings in Advanced Micro Devices by 0.8% in the second quarter. State Street Corp now owns 72,069,259 shares of the semiconductor manufacturer’s stock valued at $10,226,628,000 after buying an additional 581,330 shares during the period. Geode Capital Management LLC boosted its position in Advanced Micro Devices by 1.4% during the second quarter. Geode Capital Management LLC now owns 36,690,685 shares of the semiconductor manufacturer’s stock valued at $5,181,556,000 after acquiring an additional 514,445 shares during the last quarter. Norges Bank acquired a new stake in Advanced Micro Devices during the 2nd quarter worth about $3,094,662,000. Finally, Amundi raised its position in shares of Advanced Micro Devices by 8.0% in the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock worth $1,677,014,000 after acquiring an additional 1,319,064 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Down 4.8%

Advanced Micro Devices stock opened at $210.78 on Friday. The firm has a market capitalization of $343.16 billion, a price-to-earnings ratio of 104.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. The firm’s fifty day moving average price is $231.11 and its two-hundred day moving average price is $179.11. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $267.08. The company has a current ratio of 2.31, a quick ratio of 1.68 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The firm’s revenue was up 35.6% compared to the same quarter last year. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 19,450 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the sale, the executive vice president directly owned 300,348 shares of the company’s stock, valued at approximately $68,890,820.76. This represents a 6.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.14, for a total transaction of $26,892,500.00. Following the transaction, the chief executive officer directly owned 3,277,476 shares in the company, valued at $705,116,186.64. This represents a 3.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 183,476 shares of company stock worth $40,249,093 over the last three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Advanced Micro Devices in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $235.00 price target on Advanced Micro Devices and gave the stock a “hold” rating in a report on Tuesday, October 14th. Wall Street Zen upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Jefferies Financial Group set a $300.00 target price on shares of Advanced Micro Devices and gave the stock a “positive” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.54.

Get Our Latest Analysis on AMD

About Advanced Micro Devices

(Free Report)

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.

Further Reading

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