ARK Investment Management LLC Acquires 215,883 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• ARK Investment Management LLC increased its stake in Advanced Micro Devices (AMD) by 17.9%, now owning over 1.4 million shares valued at approximately $146 million.
• Multiple institutional investors have also increased their holdings in AMD, with 71.34% of the stock owned by institutional investors as of the most recent period.
• Recent analyst upgrades have set a price target range for AMD shares from $135 to $200, indicating a robust bullish outlook among several research analysts.

ARK Investment Management LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,422,471 shares of the semiconductor manufacturer's stock after buying an additional 215,883 shares during the period. Advanced Micro Devices makes up about 1.4% of ARK Investment Management LLC's portfolio, making the stock its 21st largest position. ARK Investment Management LLC owned approximately 0.09% of Advanced Micro Devices worth $146,145,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after buying an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after acquiring an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Advanced Micro Devices by 12.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after acquiring an additional 29,825 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $1,695,000. Finally, Sava Infond d.o.o. bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $85,000. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMD shares. Sanford C. Bernstein boosted their price target on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Melius Research raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $110.00 to $175.00 in a research report on Monday, June 23rd. Susquehanna reduced their target price on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a report on Thursday, April 24th. KeyCorp downgraded Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Finally, HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target on the stock in a report on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and an average price target of $154.68.

Advanced Micro Devices Stock Up 2.7%

Shares of NASDAQ:AMD opened at $166.47 on Friday. The firm has a fifty day moving average price of $132.24 and a two-hundred day moving average price of $114.51. The company has a market cap of $269.91 billion, a price-to-earnings ratio of 122.40, a PEG ratio of 2.14 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm's revenue was up 35.9% compared to the same quarter last year. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.

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