Baltimore Washington Financial Advisors Inc. Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

by · The Cerbat Gem

Baltimore Washington Financial Advisors Inc. raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 92,678 shares of the semiconductor manufacturer’s stock after buying an additional 2,592 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Advanced Micro Devices were worth $15,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the period. Van ECK Associates Corp increased its position in shares of 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 worth $1,402,412,000 after acquiring an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. increased its position in shares of 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 worth $1,381,679,000 after acquiring an additional 2,497,056 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter worth $296,178,000. Finally, Swedbank AB purchased a new stake in shares of Advanced Micro Devices during the first quarter worth $290,842,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Price Performance

Shares of AMD opened at $138.35 on Friday. The company has a market capitalization of $224.52 billion, a price-to-earnings ratio of 124.64, a price-to-earnings-growth ratio of 1.90 and a beta of 1.71. Advanced Micro Devices, Inc. has a fifty-two week low of $116.37 and a fifty-two week high of $227.30. The firm has a 50-day simple moving average of $153.67 and a 200-day simple moving average of $154.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

AMD has been the subject of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Truist Financial lowered their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Barclays lowered their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $192.79.

View Our Latest Stock Analysis on AMD

Advanced Micro Devices Company 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.

Further Reading

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