BLKBRD Asset Management LP Purchases Shares of 89,886 Advanced Micro Devices, Inc. $AMD

by · The Markets Daily

BLKBRD Asset Management LP purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 89,886 shares of the semiconductor manufacturer’s stock, valued at approximately $12,755,000. Advanced Micro Devices comprises 7.2% of BLKBRD Asset Management LP’s holdings, making the stock its 3rd largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wise Wealth Partners purchased a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at about $343,000. Waterfront Wealth Inc. purchased a new position in Advanced Micro Devices during the 2nd quarter worth approximately $1,145,000. Parisi Gray Wealth Management purchased a new stake in Advanced Micro Devices in the second quarter valued at approximately $343,000. Global Retirement Partners LLC purchased a new stake in Advanced Micro Devices in the second quarter valued at approximately $4,519,000. Finally, Cornercap Investment Counsel Inc. boosted its holdings in shares of Advanced Micro Devices by 43.3% in the second quarter. Cornercap Investment Counsel Inc. now owns 12,245 shares of the semiconductor manufacturer’s stock valued at $1,738,000 after acquiring an additional 3,702 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Down 4.8%

NASDAQ AMD opened at $210.78 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.31 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $343.16 billion, a P/E ratio of 104.35, a P/E/G ratio of 1.64 and a beta of 1.93. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $267.08. The firm has a 50-day moving average price of $231.11 and a 200 day moving average price of $179.11.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The business had revenue of $9.25 billion during the quarter, compared to the consensus estimate of $8.76 billion. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. Equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,108 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the transaction, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at $411,686,940.60. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ava Hahn sold 2,868 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $226.01, for a total transaction of $648,196.68. Following the completion of the transaction, the senior vice president owned 9,033 shares of the company’s stock, valued at $2,041,548.33. This represents a 24.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 183,476 shares of company stock worth $40,249,093. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMD shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $300.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft set a $235.00 price objective on shares of Advanced Micro Devices and gave the stock a “hold” rating in a research report on Tuesday, October 14th. Piper Sandler restated an “overweight” rating and issued a $280.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Roth Capital reiterated a “buy” rating and set a $300.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Finally, Stifel Nicolaus raised their price target on Advanced Micro Devices from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $278.54.

Get Our Latest Analysis on Advanced Micro Devices

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.

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