Oakworth Capital Inc. Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

by · The Cerbat Gem

Oakworth Capital Inc. increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 20.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,791 shares of the semiconductor manufacturer’s stock after acquiring an additional 305 shares during the period. Oakworth Capital Inc.’s holdings in Advanced Micro Devices were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMD. Van ECK Associates Corp lifted its stake in Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares during the last quarter. Vanguard Group Inc. lifted its stake in Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Advanced Micro Devices in the second quarter worth $296,178,000. Swedbank AB bought a new stake in Advanced Micro Devices in the first quarter worth $290,842,000. Finally, Assenagon Asset Management S.A. lifted its stake in Advanced Micro Devices by 29.0% in the second quarter. Assenagon Asset Management S.A. now owns 5,923,710 shares of the semiconductor manufacturer’s stock worth $960,885,000 after purchasing an additional 1,331,165 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMD shares. Wells Fargo & Company upped their price objective 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. Morgan Stanley upped their price objective on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, Bank of America reaffirmed a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $195.00.

View Our Latest Stock Report on AMD

Advanced Micro Devices Trading Down 2.8 %

NASDAQ:AMD opened at $153.49 on Tuesday. The company’s 50 day moving average price is $154.28 and its 200-day moving average price is $156.57. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. The stock has a market cap of $248.09 billion, a price-to-earnings ratio of 232.21, a PEG ratio of 2.33 and a beta of 1.70.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

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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