OFI Invest Asset Management Buys New Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

OFI Invest Asset Management acquired a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the fourth quarter, HoldingsChannel reports. The firm acquired 76,383 shares of the semiconductor manufacturer’s stock, valued at approximately $8,910,000.

A number of other large investors have also added to or reduced their stakes in AMD. Swedbank AB raised its stake in shares of Advanced Micro Devices by 0.8% in the third quarter. Swedbank AB now owns 2,151,636 shares of the semiconductor manufacturer’s stock valued at $353,040,000 after acquiring an additional 17,446 shares during the period. Howard Capital Management Group LLC grew its holdings in Advanced Micro Devices by 21.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock valued at $300,000 after purchasing an additional 324 shares during the last quarter. M&G PLC bought a new stake in Advanced Micro Devices in the third quarter worth about $2,355,000. Principal Financial Group Inc. lifted its stake in Advanced Micro Devices by 30.2% in the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after purchasing an additional 588,595 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Advanced Micro Devices by 102.1% during the third quarter. Kornitzer Capital Management Inc. KS now owns 6,433 shares of the semiconductor manufacturer’s stock valued at $1,056,000 after buying an additional 3,250 shares during the period. Institutional investors own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMD shares. Barclays cut their price objective on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Thursday. HSBC reissued a “reduce” rating and issued a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. Susquehanna reduced their target price on shares of Advanced Micro Devices from $165.00 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday, February 5th. Finally, TD Cowen lowered their price target on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating for the company in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $155.83.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $100.31 on Friday. The firm has a market cap of $162.55 billion, a PE ratio of 101.32, a P/E/G ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a twelve month low of $95.89 and a twelve month high of $227.30. 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 business has a 50-day moving average price of $114.39 and a 200 day moving average price of $135.13.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Philip Guido bought 4,645 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

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.