Sumitomo Life Insurance Co. Acquires 20,272 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sumitomo Life Insurance Co. increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 39.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,003 shares of the semiconductor manufacturer’s stock after acquiring an additional 20,272 shares during the quarter. Advanced Micro Devices comprises about 0.2% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 27th biggest holding. Sumitomo Life Insurance Co.’s holdings in Advanced Micro Devices were worth $11,814,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMD. Tradewinds Capital Management LLC boosted its position in shares of Advanced Micro Devices by 102.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 71 shares in the last quarter. ZRC Wealth Management LLC increased 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 acquiring an additional 75 shares in the last quarter. 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 purchasing an additional 85 shares during the last quarter. Fairway Wealth LLC bought a new position in Advanced Micro Devices in the 2nd quarter worth about $27,000. Finally, Semmax Financial Advisors Inc. grew its position in Advanced Micro Devices by 926.7% during the 1st 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 during the last quarter. Institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMD. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Piper Sandler lifted their target price on Advanced Micro Devices from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Morgan Stanley upped their price target on Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Truist Financial dropped their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Advanced Micro Devices Price Performance

NASDAQ AMD traded down $0.39 during trading hours on Wednesday, reaching $156.25. The company’s stock had a trading volume of 5,874,390 shares, compared to its average volume of 57,638,512. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. The firm’s 50-day moving average price is $152.48 and its 200-day moving average price is $157.15. The company has a market capitalization of $252.55 billion, a price-to-earnings ratio of 230.35, a PEG ratio of 2.33 and a beta of 1.70.

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