Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in Advanced Micro Devices (AMD) by 169.7%, now owning approximately 9.86 million shares valued at over $1 billion.
• Several institutional investors, including Toronto Dominion Bank and Kovitz Investment Group, significantly increased their positions in AMD during the past quarters, indicating strong interest in the semiconductor manufacturer.
• AMD's latest quarterly earnings report showed a revenue of $7.69 billion, a 31.7% increase year-over-year, although it fell short of EPS expectations, posting $0.48 compared to the $0.54 forecast.

Goldman Sachs Group Inc. increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 169.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,855,341 shares of the semiconductor manufacturer's stock after purchasing an additional 6,200,850 shares during the quarter. Goldman Sachs Group Inc. owned 0.61% of Advanced Micro Devices worth $1,012,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after purchasing an additional 1,929,225 shares during the period. Northern Trust Corp lifted its holdings in shares of 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 worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Advanced Micro Devices by 0.9% in the first quarter. Assenagon Asset Management S.A. now owns 8,614,342 shares of the semiconductor manufacturer's stock valued at $885,037,000 after acquiring an additional 73,657 shares during the period. Deutsche Bank AG lifted its holdings in Advanced Micro Devices by 11.2% in the fourth quarter. Deutsche Bank AG now owns 7,953,627 shares of the semiconductor manufacturer's stock valued at $960,719,000 after acquiring an additional 799,876 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Advanced Micro Devices by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,857,713 shares of the semiconductor manufacturer's stock valued at $707,637,000 after acquiring an additional 214,335 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the transaction, the executive vice president owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler boosted their price target on Advanced Micro Devices from $140.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday. Wedbush reissued a "cautious" rating on shares of Advanced Micro Devices in a report on Saturday. HSBC raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target for the company in a report on Thursday, July 10th. The Goldman Sachs Group raised Advanced Micro Devices to a "hold" rating and set a $140.00 price target for the company in a report on Thursday, July 10th. Finally, Mizuho boosted their price target on Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.56.

Advanced Micro Devices Trading Up 0.2%

NASDAQ AMD traded up $0.36 on Friday, reaching $172.76. 68,723,246 shares of the company were exchanged, compared to its average volume of 66,889,100. The business's fifty day moving average price is $144.55 and its 200 day moving average price is $118.25. The stock has a market capitalization of $280.36 billion, a P/E ratio of 99.29, a price-to-earnings-growth ratio of 2.06 and a beta of 1.94. The company has a current ratio of 2.49, a quick ratio of 1.97 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period last year, the company earned $0.69 EPS. The business's revenue for the quarter was up 31.7% on a year-over-year basis. Analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership 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.