545,547 Shares in Advanced Micro Devices, Inc. (NASDAQ:AMD) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 545,547 shares of the semiconductor manufacturer’s stock, valued at approximately $65,897,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. Bear Mountain Capital Inc. bought a new position in Advanced Micro Devices during the fourth quarter worth about $25,000. Global Wealth Strategies & Associates bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $32,000. Finally, IAG Wealth Partners LLC lifted its holdings in shares of Advanced Micro Devices by 74.7% during the 4th quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMD. Summit Insights upgraded Advanced Micro Devices to a “hold” rating in a report on Tuesday, February 4th. HSBC reissued a “reduce” rating and issued a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. DZ Bank lowered Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, February 7th. Wolfe Research lowered Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 16th. Finally, Bank of America lowered their price target on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.14.

Advanced Micro Devices Price Performance

Shares of AMD opened at $106.44 on Friday. Advanced Micro Devices, Inc. has a 12-month low of $94.73 and a 12-month high of $187.28. The business has a 50-day simple moving average of $110.28 and a two-hundred day simple moving average of $131.88. 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 stock has a market cap of $172.48 billion, a PE ratio of 107.52, a PEG ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Philip Guido purchased 4,645 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now owns 33,522 shares in the company, valued at approximately $3,605,626.32. This represents a 16.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices 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.