Cullinan Associates Inc. Grows Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cullinan Associates Inc. boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,819 shares of the semiconductor manufacturer’s stock after purchasing an additional 300 shares during the quarter. Cullinan Associates Inc.’s holdings in Advanced Micro Devices were worth $758,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after purchasing an additional 2,349,288 shares in the last quarter. Legal & General Group Plc raised its stake in Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after purchasing an additional 188,580 shares in the last quarter. Van ECK Associates Corp raised its stake in Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after purchasing an additional 2,979,204 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Advanced Micro Devices by 42.2% during the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Finally, GQG Partners LLC raised its stake in shares of Advanced Micro Devices by 5.0% in the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock valued at $1,451,945,000 after acquiring an additional 382,582 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 2.6 %

Shares of AMD stock traded up $4.02 on Friday, hitting $157.46. 5,381,395 shares of the stock traded hands, compared to its average volume of 56,622,250. The firm’s 50-day moving average price is $154.79 and its two-hundred day moving average price is $156.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The stock has a market capitalization of $254.50 billion, a PE ratio of 225.65, a PEG ratio of 2.33 and a beta of 1.70. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMD shares. Wells Fargo & Company increased their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Edward Jones started coverage on shares of Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Bank of America restated a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Finally, Truist Financial decreased their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Company Profile

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.