Channel Wealth LLC Buys Shares of 16,666 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Channel Wealth LLC bought a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,666 shares of the semiconductor manufacturer’s stock, valued at approximately $2,013,000.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. State Street Corp grew its position in shares of Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Advanced Micro Devices by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after purchasing an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Advanced Micro Devices by 11.3% in the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after purchasing an additional 975,220 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. UBS Group reduced their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Wolfe Research cut Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday. The Goldman Sachs Group cut Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $175.00 to $129.00 in a research report on Friday, January 10th. Finally, HSBC restated a “reduce” rating and set a $110.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.61.

Advanced Micro Devices Price Performance

AMD opened at $118.44 on Friday. The stock’s 50 day simple moving average is $131.09 and its 200 day simple moving average is $145.76. 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, Inc. has a 1 year low of $114.41 and a 1 year high of $227.30. The firm has a market cap of $192.21 billion, a price-to-earnings ratio of 106.70, a PEG ratio of 1.03 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share 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 business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the business posted $0.53 EPS. The business’s revenue was up 17.6% on a year-over-year basis. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,036 shares of company stock worth $28,165,821. 0.65% of the stock is currently owned by company insiders.

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.