Advanced Micro Devices, Inc. $AMD is Ardmore Road Asset Management LP’s 2nd Largest Position

Ardmore Road Asset Management LP increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 300.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600,000 shares of the semiconductor manufacturer’s stock after buying an additional 450,000 shares during the quarter. Advanced Micro Devices accounts for about 7.0% of Ardmore Road Asset Management LP’s portfolio, making the stock its 2nd largest position. Ardmore Road Asset Management LP’s holdings in Advanced Micro Devices were worth $85,140,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. boosted its stake in Advanced Micro Devices by 81.0% in the 2nd quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares in the last quarter. Dogwood Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 2,311.1% in the second quarter. Dogwood Wealth Management LLC now owns 217 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 208 shares during the last quarter. Avion Wealth lifted its stake in shares of Advanced Micro Devices by 49.3% during the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 72 shares during the period. West Branch Capital LLC grew its holdings in shares of Advanced Micro Devices by 3,057.1% during the second quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 214 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC grew its holdings in shares of Advanced Micro Devices by 185.3% during the first quarter. Financial Network Wealth Advisors LLC now owns 331 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 215 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,108 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $240.12, for a total value of $4,107,972.96. Following the completion of the transaction, the executive vice president owned 1,714,505 shares of the company’s stock, valued at approximately $411,686,940.60. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ava Hahn sold 2,868 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $226.01, for a total value of $648,196.68. Following the completion of the sale, the senior vice president directly owned 9,033 shares in the company, valued at approximately $2,041,548.33. The trade was a 24.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,676 shares of company stock valued at $16,124,589 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of research reports. Robert W. Baird set a $300.00 price target on Advanced Micro Devices in a research report on Wednesday, November 5th. Seaport Res Ptn cut Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Truist Financial reiterated a “buy” rating and issued a $279.00 target price (up previously from $273.00) on shares of Advanced Micro Devices in a research report on Wednesday, November 5th. Wells Fargo & Company raised their price target on shares of Advanced Micro Devices from $300.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Finally, Piper Sandler restated an “overweight” rating and set a $280.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $278.54.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $217.97 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.31 and a quick ratio of 1.68. The stock has a market capitalization of $354.86 billion, a price-to-earnings ratio of 107.91, a PEG ratio of 1.60 and a beta of 1.93. The firm’s 50 day simple moving average is $225.61 and its 200-day simple moving average is $175.37. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $267.08.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $9.25 billion for the quarter, compared to the consensus estimate of $8.76 billion. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. Analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current 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.