BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 44.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 494,776 shares of the semiconductor manufacturer's stock after purchasing an additional 151,749 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Advanced Micro Devices were worth $59,764,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in AMD. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $2,867,193,000. Toronto Dominion Bank increased its position in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after buying an additional 2,889,739 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after buying an additional 2,874,012 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock valued at $1,432,538,000 after buying an additional 2,238,866 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Advanced Micro Devices
In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.06% of the company's stock.
Advanced Micro Devices Price Performance
Shares of NASDAQ:AMD opened at $113.51 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The business has a 50 day moving average price of $99.52 and a 200 day moving average price of $114.51. The company has a market cap of $184.05 billion, a price-to-earnings ratio of 114.66, a PEG ratio of 1.11 and a beta of 1.97.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS. Research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.
Advanced Micro Devices announced that its board has approved a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of brokerages have recently issued reports on AMD. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price target for the company from $135.00 to $120.00 in a report on Thursday, March 27th. Citigroup reaffirmed a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Mizuho lifted their price objective on Advanced Micro Devices from $117.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Truist Financial set a $130.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.58.
Read Our Latest Stock Analysis on Advanced Micro Devices
About Advanced Micro Devices
(
Free Report)
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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