1832 Asset Management L.P. Buys 28,961 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

1832 Asset Management L.P. raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 21.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,063 shares of the semiconductor manufacturer’s stock after purchasing an additional 28,961 shares during the quarter. 1832 Asset Management L.P.’s holdings in Advanced Micro Devices were worth $26,937,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC grew its stake in Advanced Micro Devices by 2,179.7% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 36,589 shares of the semiconductor manufacturer’s stock valued at $5,935,000 after buying an additional 34,984 shares during the last quarter. Holderness Investments Co. grew its position in shares of Advanced Micro Devices by 10.2% in the second quarter. Holderness Investments Co. now owns 6,628 shares of the semiconductor manufacturer’s stock valued at $1,075,000 after purchasing an additional 613 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Advanced Micro Devices by 6.2% during the second quarter. Profund Advisors LLC now owns 264,109 shares of the semiconductor manufacturer’s stock worth $42,841,000 after purchasing an additional 15,490 shares during the period. Circle Wealth Management LLC lifted its holdings in Advanced Micro Devices by 177.0% during the 2nd quarter. Circle Wealth Management LLC now owns 12,447 shares of the semiconductor manufacturer’s stock worth $2,019,000 after purchasing an additional 7,954 shares during the last quarter. Finally, Hancock Whitney Corp boosted its stake in Advanced Micro Devices by 1.6% in the 2nd quarter. Hancock Whitney Corp now owns 50,168 shares of the semiconductor manufacturer’s stock valued at $8,138,000 after purchasing an additional 801 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $156.75 on Tuesday. The stock’s 50-day moving average is $146.31 and its 200-day moving average is $159.61. The stock has a market cap of $253.36 billion, a P/E ratio of 230.51, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMD shares. Susquehanna reissued a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Robert W. Baird cut their price objective on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Wedbush reiterated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, KeyCorp lowered their price objective on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. One 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.45.

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.