Absolute Gestao de Investimentos Ltda. Buys New Shares in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Absolute Gestao de Investimentos Ltda. purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,300 shares of the semiconductor manufacturer’s stock, valued at approximately $211,000. Advanced Micro Devices makes up approximately 0.1% of Absolute Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 27th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Advanced Micro Devices by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after purchasing an additional 116,020 shares during the last quarter. Chapin Davis Inc. lifted its position in shares of Advanced Micro Devices by 613.4% in the first quarter. Chapin Davis Inc. now owns 12,263 shares of the semiconductor manufacturer’s stock valued at $2,213,000 after buying an additional 10,544 shares during the last quarter. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Advanced Micro Devices by 77.4% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 49,093 shares of the semiconductor manufacturer’s stock worth $7,237,000 after acquiring an additional 21,417 shares during the period. Bank of New Hampshire raised its stake in Advanced Micro Devices by 811.3% in the 1st quarter. Bank of New Hampshire now owns 8,065 shares of the semiconductor manufacturer’s stock valued at $1,456,000 after acquiring an additional 7,180 shares during the period. Finally, Bragg Financial Advisors Inc raised its stake in Advanced Micro Devices by 6.8% in the 4th quarter. Bragg Financial Advisors Inc now owns 86,129 shares of the semiconductor manufacturer’s stock valued at $12,696,000 after acquiring an additional 5,470 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMD has been the topic of several research reports. Citigroup upped their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 15th. Wedbush reissued an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Cantor Fitzgerald dropped their price target on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Susquehanna reaffirmed a “positive” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $158.32 on Wednesday. The firm’s fifty day moving average price is $145.92 and its two-hundred day moving average price is $159.27. The stock has a market cap of $256.24 billion, a PE ratio of 232.83, a PEG ratio of 2.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. Advanced Micro Devices, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

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.