Advanced Micro Devices, Inc. $AMD Shares Purchased by Maverick Capital Ltd.

by · The Cerbat Gem

Maverick Capital Ltd. raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 5,864.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,172,044 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,152,393 shares during the quarter. Advanced Micro Devices comprises approximately 2.5% of Maverick Capital Ltd.’s investment portfolio, making the stock its 11th biggest holding. Maverick Capital Ltd. owned 0.07% of Advanced Micro Devices worth $166,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wise Wealth Partners acquired a new stake in Advanced Micro Devices during the 2nd quarter worth about $343,000. Waterfront Wealth Inc. purchased a new position in shares of Advanced Micro Devices in the second quarter worth approximately $1,145,000. Parisi Gray Wealth Management purchased a new position in shares of Advanced Micro Devices in the second quarter worth approximately $343,000. Global Retirement Partners LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $4,519,000. Finally, Cornercap Investment Counsel Inc. lifted its position in shares of Advanced Micro Devices by 43.3% in the 2nd 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 in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 0.0%

AMD opened at $221.43 on Friday. The company has a market capitalization of $360.50 billion, a PE ratio of 109.62, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $267.08. The business has a 50-day moving average of $230.19 and a 200-day moving average of $178.42.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $9.25 billion for 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 firm’s revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 earnings per share. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,108 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was 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 in the company, valued at $411,686,940.60. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ava Hahn sold 2,868 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $226.01, for a total value of $648,196.68. Following the completion of the sale, the senior vice president directly owned 9,033 shares of the company’s stock, valued at $2,041,548.33. This represents a 24.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 58,476 shares of company stock worth $13,356,593. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on AMD shares. Wells Fargo & Company lifted their price objective on shares of Advanced Micro Devices from $300.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Advanced Micro Devices in a report on Monday. Evercore ISI increased their price objective on Advanced Micro Devices from $270.00 to $283.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Roth Capital restated a “buy” rating and set a $300.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 target price on shares of Advanced Micro Devices in a report on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $278.54.

View Our Latest Research Report on AMD

Advanced Micro Devices Profile

(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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