L & S Advisors Inc Grows Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

L & S Advisors Inc lifted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 331.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,055 shares of the semiconductor manufacturer’s stock after buying an additional 42,309 shares during the quarter. Advanced Micro Devices makes up about 0.9% of L & S Advisors Inc’s investment portfolio, making the stock its 29th largest position. L & S Advisors Inc’s holdings in Advanced Micro Devices were worth $9,033,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMD. International Assets Investment Management LLC increased its stake in 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 worth $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Van ECK Associates Corp increased its holdings in shares of Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Advanced Micro Devices during the second quarter valued at about $296,178,000. Finally, Swedbank AB purchased a new position in Advanced Micro Devices in the first quarter valued at about $290,842,000. Institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMD shares. Evercore ISI lifted their price objective on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Morgan Stanley decreased their price objective on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, TD Cowen decreased their price target on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $139.31 on Thursday. Advanced Micro Devices, Inc. has a 12 month low of $116.37 and a 12 month high of $227.30. The firm has a market capitalization of $226.07 billion, a P/E ratio of 123.96, a P/E/G ratio of 1.93 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company’s fifty day moving average price is $154.22 and its 200 day moving average price is $154.82.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

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.