IvyRock Asset Management HK Ltd Invests $247,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• IvyRock Asset Management HK Ltd acquired 2,400 shares of Advanced Micro Devices, valued at approximately $247,000, making AMD the 13th largest holding in their portfolio.
• Institutional investors own 71.34% of Advanced Micro Devices stock, with significant recent purchases from Norges Bank and Toronto Dominion Bank.
• AMD's latest earnings report showed a revenue increase of 35.9% year-over-year, reporting $7.44 billion, along with an EPS of $0.96, beating analyst expectations.

IvyRock Asset Management HK Ltd acquired a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,400 shares of the semiconductor manufacturer's stock, valued at approximately $247,000. Advanced Micro Devices makes up 0.1% of IvyRock Asset Management HK Ltd's portfolio, making the stock its 13th biggest position.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after buying an additional 29,438 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after buying an additional 29,825 shares during the period. Congress Wealth Management LLC DE lifted its holdings in Advanced Micro Devices by 44.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 19,624 shares of the semiconductor manufacturer's stock worth $2,370,000 after buying an additional 6,060 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its holdings in Advanced Micro Devices by 30.2% during the 4th quarter. Ausdal Financial Partners Inc. now owns 7,893 shares of the semiconductor manufacturer's stock worth $953,000 after buying an additional 1,831 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $4.35 during midday trading on Friday, reaching $166.47. The company's stock had a trading volume of 53,186,893 shares, compared to its average volume of 46,238,572. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $174.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a 50 day moving average price of $132.24 and a 200-day moving average price of $114.51. The stock has a market capitalization of $269.91 billion, a P/E ratio of 122.40, a PEG ratio of 2.14 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate 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 business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, equities 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 initiated a share repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

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

Analyst Upgrades and Downgrades

Several research analysts have commented on AMD shares. Mizuho lifted their target price on Advanced Micro Devices from $152.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Raymond James Financial reissued an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Robert W. Baird lowered their price objective on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Susquehanna lowered their price objective on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their price objective on Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average price target of $154.68.

Advanced Micro Devices 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.