Zurich Insurance Group Ltd FI Purchases New Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Zurich Insurance Group Ltd FI purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 144,285 shares of the semiconductor manufacturer's stock, valued at approximately $17,428,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vestment Financial LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at about $231,000. Victrix Investment Advisors purchased a new position in Advanced Micro Devices in the 4th quarter valued at about $854,000. Vident Advisory LLC lifted its stake in Advanced Micro Devices by 55.1% in the 4th quarter. Vident Advisory LLC now owns 326,484 shares of the semiconductor manufacturer's stock valued at $39,436,000 after buying an additional 115,935 shares in the last quarter. Vienna Asset Management LLC lifted its stake in Advanced Micro Devices by 197.4% in the 4th quarter. Vienna Asset Management LLC now owns 56,796 shares of the semiconductor manufacturer's stock valued at $6,860,000 after buying an additional 37,696 shares in the last quarter. Finally, Sphera Management Technology Funds Ltd purchased a new position in Advanced Micro Devices in the 4th quarter valued at about $1,881,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group cut their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Summit Insights upgraded shares of Advanced Micro Devices to a "hold" rating in a report on Tuesday, February 4th. Piper Sandler reiterated an "overweight" rating and issued a $125.00 price objective (down previously from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Bank of America increased their price objective on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley cut their price objective on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $132.58.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $113.51 on Wednesday. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market cap of $184.05 billion, a P/E ratio of 114.66, a PEG ratio of 1.11 and a beta of 1.97. The company has a 50-day moving average price of $99.52 and a 200 day moving average price of $114.51.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period last year, the company posted $0.62 earnings per share. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. 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 stock repurchase 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.

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