Advanced Micro Devices, Inc. (NASDAQ:AMD) is Avalon Global Asset Management LLC’s Largest Position

Avalon Global Asset Management LLC increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,600 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,000 shares during the period. Advanced Micro Devices makes up 7.0% of Avalon Global Asset Management LLC’s portfolio, making the stock its largest holding. Avalon Global Asset Management LLC’s holdings in Advanced Micro Devices were worth $19,989,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 140,054,820 shares of the semiconductor manufacturer’s stock worth $14,400,437,000 after acquiring an additional 1,153,611 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Advanced Micro Devices by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock worth $4,181,849,000 after acquiring an additional 600,638 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Advanced Micro Devices by 5.9% during the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock worth $3,963,307,000 after acquiring an additional 1,490,997 shares in the last quarter. Norges Bank bought a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $3,426,529,000. Finally, Northern Trust Corp raised its stake in shares of Advanced Micro Devices by 2.5% during the 3rd quarter. Northern Trust Corp now owns 15,862,880 shares of the semiconductor manufacturer’s stock worth $1,631,021,000 after acquiring an additional 385,636 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

NASDAQ:AMD traded up $5.83 during trading hours on Wednesday, reaching $165.82. 16,954,817 shares of the company were exchanged, compared to its average volume of 66,989,938. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average is $162.13 and its 200-day moving average is $160.66. The firm has a market cap of $268.02 billion, a PE ratio of 235.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.69. Advanced Micro Devices, Inc. has a twelve month low of $93.11 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $175.00 price target (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Benchmark cut their price target on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. UBS Group cut their price target on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Citigroup cut their price target on shares of Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.26.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $186.73, for a total transaction of $3,025,026.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at $290,290,831.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $186.73, for a total transaction of $3,025,026.00. Following the completion of the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at $290,290,831.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the transaction, the chief executive officer now directly owns 3,222,230 shares of the company’s stock, valued at approximately $628,753,739.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,400 shares of company stock worth $30,077,126. Company insiders own 0.65% of the company’s stock.

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.