Independent Advisor Alliance Raises Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Independent Advisor Alliance lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,385 shares of the semiconductor manufacturer’s stock after buying an additional 454 shares during the period. Advanced Micro Devices comprises 1.8% of Independent Advisor Alliance’s portfolio, making the stock its 6th largest holding. Independent Advisor Alliance’s holdings in Advanced Micro Devices were worth $49,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMD. Harvest Fund Management Co. Ltd lifted its position in Advanced Micro Devices by 47.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 197,878 shares of the semiconductor manufacturer’s stock valued at $32,468,000 after purchasing an additional 63,621 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Advanced Micro Devices during the third quarter valued at approximately $454,000. Prosperity Financial Group Inc. lifted its position in Advanced Micro Devices by 56.5% during the third quarter. Prosperity Financial Group Inc. now owns 5,271 shares of the semiconductor manufacturer’s stock valued at $865,000 after purchasing an additional 1,904 shares during the period. Douglass Winthrop Advisors LLC lifted its position in Advanced Micro Devices by 60.7% during the third quarter. Douglass Winthrop Advisors LLC now owns 2,171 shares of the semiconductor manufacturer’s stock valued at $356,000 after purchasing an additional 820 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Advanced Micro Devices by 2.8% during the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock valued at $3,904,323,000 after purchasing an additional 644,039 shares during the period. Institutional investors own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMD. Robert W. Baird lowered their price objective on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Evercore ISI lifted their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen reduced their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Roth Mkm reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Performance

AMD stock opened at $138.35 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $153.67 and its two-hundred day simple moving average is $154.59. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The firm has a market cap of $224.52 billion, a price-to-earnings ratio of 124.64, a PEG ratio of 1.91 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was up 17.6% compared to the same quarter last year. Analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Advanced Micro Devices 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.