Reliant Investment Management LLC Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Reliant Investment Management LLC lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 38,022 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,115 shares during the quarter. Reliant Investment Management LLC’s holdings in Advanced Micro Devices were worth $4,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMD. International Assets Investment Management LLC boosted its holdings in shares of Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after purchasing an additional 7,815,305 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. State Street Corp boosted its holdings in shares of Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Advanced Micro Devices by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Advanced Micro Devices by 11.3% in the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock worth $1,471,128,000 after purchasing an additional 975,220 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 2.5 %

Shares of NASDAQ:AMD opened at $121.46 on Tuesday. Advanced Micro Devices, Inc. has a 52-week low of $114.41 and a 52-week high of $227.30. The firm has a market capitalization of $197.11 billion, a P/E ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66. The stock has a 50 day moving average price of $129.94 and a 200-day moving average price of $145.06. 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) last announced its 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 analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 in the last 90 days. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research reports. KeyCorp cut their price objective on Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Piper Sandler restated an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Citigroup dropped their target price 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. Finally, The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and dropped their target price for the company from $175.00 to $129.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $178.61.

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.