Resona Asset Management Co. Ltd. Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Resona Asset Management Co. Ltd. acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 485,040 shares of the semiconductor manufacturer’s stock, valued at approximately $58,902,000.

A number of other hedge funds also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $25,000. Global Wealth Strategies & Associates purchased 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 approximately $29,000. Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In other news, EVP Philip Guido acquired 4,645 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 directly owns 33,522 shares in the company, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

Advanced Micro Devices Trading Down 8.6 %

Shares of NASDAQ AMD opened at $85.76 on Friday. Advanced Micro Devices, Inc. has a fifty-two week low of $83.67 and a fifty-two week high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The company has a market cap of $138.61 billion, a price-to-earnings ratio of 86.63, a PEG ratio of 1.11 and a beta of 1.88. The business’s 50 day moving average price is $106.88 and its 200-day moving average price is $129.10.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share 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%. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. HSBC restated a “reduce” rating and set a $110.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, January 8th. UBS Group set a $175.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Argus set a $160.00 target price on shares of Advanced Micro Devices in a report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Tuesday, February 4th. Finally, Truist Financial set a $130.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $152.72.

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.