DnB Asset Management AS Buys 34,900 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

DnB Asset Management AS lifted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,269 shares of the semiconductor manufacturer’s stock after buying an additional 34,900 shares during the period. DnB Asset Management AS’s holdings in Advanced Micro Devices were worth $54,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Howard Capital Management Group LLC grew its position 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 worth $300,000 after acquiring an additional 324 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 valued at $416,430,000 after buying an additional 588,595 shares during the last quarter. United Bank acquired a new position in Advanced Micro Devices during the 3rd quarter worth about $516,000. Dynamic Technology Lab Private Ltd bought a new stake in Advanced Micro Devices during the 3rd quarter worth about $454,000. Finally, D.A. Davidson & CO. increased its position in Advanced Micro Devices by 26.6% in the 3rd quarter. D.A. Davidson & CO. now owns 36,451 shares of the semiconductor manufacturer’s stock valued at $5,981,000 after acquiring an additional 7,648 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $106.65 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. Advanced Micro Devices, Inc. has a 52 week low of $94.73 and a 52 week high of $187.28. The stock has a market capitalization of $172.82 billion, a P/E ratio of 107.73, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. The stock has a fifty day moving average of $109.75 and a 200-day moving average of $131.14.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting the consensus estimate 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 fiscal year.

Insiders Place Their Bets

In other news, EVP Philip Guido purchased 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost 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 of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMD has been the topic of several research analyst reports. Roth Capital set a $140.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Stifel Nicolaus lowered their target price on Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the company from $175.00 to $129.00 in a research note on Friday, January 10th. Morgan Stanley set a $137.00 price objective on Advanced Micro Devices in a report on Wednesday, February 5th. Finally, Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $135.00 to $120.00 in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.