Raiffeisen Bank International AG Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Raiffeisen Bank International AG purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 453,172 shares of the semiconductor manufacturer's stock, valued at approximately $55,486,000.

A number of other institutional investors have also made changes to their positions in AMD. Norges Bank bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $2,867,193,000. Kovitz Investment Group Partners LLC raised its position in Advanced Micro Devices by 2,265.5% in the 4th 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 increased its position in 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 acquiring an additional 2,874,012 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after acquiring an additional 2,238,866 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Advanced Micro Devices by 70.3% in the fourth quarter. Lazard Asset Management LLC now owns 3,609,705 shares of the semiconductor manufacturer's stock valued at $436,014,000 after buying an additional 1,490,697 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMD shares. Bank of America raised their target price on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday. Truist Financial set a $130.00 price target on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Sanford C. Bernstein reduced their price objective on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, StockNews.com upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $131.45.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Up 4.7%

Advanced Micro Devices stock opened at $117.72 on Thursday. The firm has a market capitalization of $190.87 billion, a price-to-earnings ratio of 118.91, a P/E/G ratio of 1.11 and a beta of 1.97. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $98.16 and a 200 day moving average of $115.79. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has approved a share buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

About Advanced Micro Devices

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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