Firetrail Investments PTY Ltd. Has $11.82 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Firetrail Investments PTY Ltd. lifted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 25.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,131 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,481 shares during the quarter. Advanced Micro Devices makes up approximately 3.4% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 13th largest holding. Firetrail Investments PTY Ltd.’s holdings in Advanced Micro Devices were worth $11,823,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMD. Cherrydale Wealth Management LLC increased its holdings in Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after acquiring an additional 58 shares during the period. Christopher J. Hasenberg Inc grew its position in shares of Advanced Micro Devices by 12.0% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after purchasing an additional 60 shares in the last quarter. Delta Financial Group Inc. increased its holdings in shares of Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after purchasing an additional 63 shares during the period. Trivant Custom Portfolio Group LLC raised its position in shares of Advanced Micro Devices by 0.3% in the second quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock worth $3,995,000 after buying an additional 65 shares in the last quarter. Finally, Wealth Effects LLC boosted its stake in Advanced Micro Devices by 0.7% during the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after buying an additional 65 shares during the period. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMD. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Bank of America restated a “buy” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Robert W. Baird decreased their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, TD Cowen dropped their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $139.30 on Thursday. The company has a market capitalization of $226.06 billion, a P/E ratio of 125.50, a P/E/G ratio of 1.99 and a beta of 1.71. Advanced Micro Devices, Inc. has a 1-year low of $116.37 and a 1-year high of $227.30. The firm’s 50 day simple moving average is $154.55 and its two-hundred day simple moving average is $155.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the company posted $0.53 earnings per share. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. Research analysts expect that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

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.