Arizona State Retirement System Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Arizona State Retirement System raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 469,457 shares of the semiconductor manufacturer’s stock after buying an additional 6,085 shares during the quarter. Arizona State Retirement System’s holdings in Advanced Micro Devices were worth $56,706,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the fourth quarter valued at about $25,000. Global Wealth Strategies & Associates acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $29,000. FSA Wealth Management LLC bought a new position in shares of Advanced Micro Devices in the 3rd quarter worth about $41,000. Finally, Retirement Wealth Solutions LLC bought a new position in Advanced Micro Devices in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 2.6 %

AMD stock opened at $100.75 on Wednesday. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $115.90 and its 200-day moving average is $136.16. Advanced Micro Devices, Inc. has a 1-year low of $95.89 and a 1-year high of $227.30. The firm has a market cap of $163.26 billion, a P/E ratio of 101.77, a P/E/G ratio of 1.11 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMD has been the subject of several recent research reports. Bank of America dropped their price objective on shares of Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Truist Financial set a $130.00 target price on Advanced Micro Devices in a research report on Wednesday, February 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, February 4th. KeyCorp lowered their price objective on shares of Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, HSBC reissued a “reduce” rating and set a $110.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.83.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Philip Guido bought 4,645 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the transaction, the executive vice president now directly owns 33,522 shares in the company, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.73% 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.