Fairtree Asset Management Pty Ltd Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Fairtree Asset Management Pty Ltd purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,464 shares of the semiconductor manufacturer's stock, valued at approximately $660,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. Norges Bank acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $2,867,193,000. Toronto Dominion Bank boosted its position in Advanced Micro Devices by 443.3% during the fourth 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 grew its holdings in Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Northern Trust Corp grew its holdings in Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded down $1.70 on Wednesday, hitting $112.86. The stock had a trading volume of 26,958,375 shares, compared to its average volume of 42,119,470. The firm's 50 day moving average price is $100.36 and its 200-day moving average price is $113.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The company has a market capitalization of $182.99 billion, a price-to-earnings ratio of 114.00, a price-to-earnings-growth 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 during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. On average, equities 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 of Directors has authorized 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AMD has been the topic of a number of research analyst reports. DZ Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a research note on Thursday, May 8th. Truist Financial set a $130.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. Argus set a $160.00 price objective on Advanced Micro Devices in a research note on Thursday, February 6th. Loop Capital decreased their target price on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and dropped their price target for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $132.58.

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.