Assenagon Asset Management S.A. Has $1.38 Billion Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Assenagon Asset Management S.A. lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 42.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,420,766 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,497,056 shares during the period. Advanced Micro Devices comprises approximately 2.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 5th biggest holding. Assenagon Asset Management S.A. owned about 0.52% of Advanced Micro Devices worth $1,381,679,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tradewinds Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 102.9% during the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares in the last quarter. ZRC Wealth Management LLC grew its holdings in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the period. Morton Brown Family Wealth LLC raised its position in shares of Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices in the 2nd quarter valued at approximately $27,000. Finally, Semmax Financial Advisors Inc. boosted its position in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 139 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Edward Jones began coverage on shares of Advanced Micro Devices in a research report on Tuesday, August 20th. They set a “buy” rating for the company. Barclays cut their price objective on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. 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 report on Wednesday, July 31st. Finally, Susquehanna reissued a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded up $0.47 during trading hours on Thursday, reaching $153.38. 13,941,803 shares of the company traded hands, compared to its average volume of 56,825,852. The firm has a 50-day moving average price of $154.79 and a 200 day moving average price of $156.43. The company has a market cap of $247.91 billion, a P/E ratio of 224.65, a P/E/G ratio of 2.33 and a beta of 1.70. Advanced Micro Devices, Inc. has a 12-month low of $93.11 and a 12-month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data 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. 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 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

About Advanced Micro Devices

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.