Clear Street Derivatives LLC Makes New $110.50 Million Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Clear Street Derivatives LLC bought a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the third quarter, HoldingsChannel.com reports. The fund bought 673,428 shares of the semiconductor manufacturer’s stock, valued at approximately $110,496,000. Advanced Micro Devices comprises about 1.9% of Clear Street Derivatives LLC’s holdings, making the stock its 5th largest holding.

Several other large investors have also recently modified their holdings of the stock. Creative Capital Management Investments LLC boosted its stake in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC lifted its holdings in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Morton Brown Family Wealth LLC boosted its position in shares of Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares during the last quarter. Fairway Wealth LLC purchased a new position in Advanced Micro Devices in the 2nd quarter worth about $27,000. Finally, Ridgewood Investments LLC purchased a new position in Advanced Micro Devices in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 0.7 %

Shares of AMD stock opened at $137.18 on Monday. The company has a market cap of $222.62 billion, a PE ratio of 123.59, a price-to-earnings-growth ratio of 1.89 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock’s 50 day simple moving average is $152.16 and its two-hundred day simple moving average is $154.03. Advanced Micro Devices, Inc. has a 1 year low of $116.37 and a 1 year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the company earned $0.53 earnings per share. Advanced Micro Devices’s revenue was up 17.6% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

AMD has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Citigroup cut their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Barclays decreased their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Advanced Micro Devices 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.