Point72 Italy S.r.l. Buys Shares of 149,899 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Point72 Italy S.r.l. purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the third quarter, Holdings Channel reports. The fund purchased 149,899 shares of the semiconductor manufacturer’s stock, valued at approximately $24,595,000. Advanced Micro Devices makes up about 8.0% of Point72 Italy S.r.l.’s investment portfolio, making the stock its 4th biggest position.

Other institutional investors also recently made changes to their positions in the company. Polymer Capital Management HK LTD boosted its holdings in shares of Advanced Micro Devices by 1,492.0% in the third quarter. Polymer Capital Management HK LTD now owns 39,800 shares of the semiconductor manufacturer’s stock worth $6,530,000 after buying an additional 37,300 shares during the last quarter. Menard Financial Group LLC increased its position in Advanced Micro Devices by 9.5% in the third quarter. Menard Financial Group LLC now owns 5,381 shares of the semiconductor manufacturer’s stock worth $883,000 after purchasing an additional 466 shares during the last quarter. Motley Fool Asset Management LLC increased its position in Advanced Micro Devices by 3.7% in the third quarter. Motley Fool Asset Management LLC now owns 65,131 shares of the semiconductor manufacturer’s stock worth $10,405,000 after purchasing an additional 2,329 shares during the last quarter. NFJ Investment Group LLC bought a new position in Advanced Micro Devices during the third quarter valued at $14,404,000. Finally, IHT Wealth Management LLC increased its position in Advanced Micro Devices by 34.4% during the third quarter. IHT Wealth Management LLC now owns 34,178 shares of the semiconductor manufacturer’s stock valued at $5,570,000 after acquiring an additional 8,746 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Mkm reissued a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, October 11th. Edward Jones assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Barclays cut their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred 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 directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Advanced Micro Devices Stock Down 0.1 %

NASDAQ:AMD opened at $141.98 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock has a 50-day simple moving average of $151.54 and a 200 day simple moving average of $153.73. The company has a market cap of $230.41 billion, a PE ratio of 127.91, a PEG ratio of 1.96 and a beta of 1.65. Advanced Micro Devices, Inc. has a 52-week low of $116.37 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

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.