BLKBRD Asset Management LP Makes New Investment in Advanced Micro Devices, Inc. $AMD

BLKBRD Asset Management LP purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the second quarter, HoldingsChannel reports. The firm purchased 89,886 shares of the semiconductor manufacturer’s stock, valued at approximately $12,755,000. Advanced Micro Devices makes up approximately 7.2% of BLKBRD Asset Management LP’s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in AMD. Pinney & Scofield Inc. increased its holdings in Advanced Micro Devices by 81.0% during the 2nd quarter. Pinney & Scofield Inc. now owns 190 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares in the last quarter. Dogwood Wealth Management LLC grew its position 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 valued at $30,000 after purchasing an additional 208 shares during the last quarter. Avion Wealth increased its stake in shares of Advanced Micro Devices by 49.3% during the 2nd quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 72 shares in the last quarter. West Branch Capital LLC raised its position in shares of Advanced Micro Devices by 3,057.1% during the 2nd quarter. West Branch Capital LLC now owns 221 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 214 shares during the last quarter. Finally, Semmax Financial Advisors Inc. raised its position in shares of Advanced Micro Devices by 115.1% during the 1st quarter. Semmax Financial Advisors Inc. now owns 370 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 19,450 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the transaction, the executive vice president directly owned 300,348 shares in the company, valued at $68,890,820.76. This trade represents a 6.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark D. Papermaster sold 17,108 shares of Advanced Micro Devices stock in a transaction dated Friday, November 14th. The shares were 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 directly owned 1,714,505 shares in the company, valued at $411,686,940.60. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 183,476 shares of company stock valued at $40,249,093. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AMD shares. Susquehanna reiterated a “positive” rating and set a $300.00 target price on shares of Advanced Micro Devices in a report on Friday, October 31st. CICC Research upgraded Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $265.00 price objective on the stock in a research report on Friday, November 7th. Raymond James Financial began coverage on Advanced Micro Devices in a research report on Thursday, November 20th. They set an “outperform” rating and a $377.00 price objective for the company. UBS Group boosted their target price on shares of Advanced Micro Devices from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft set a $235.00 target price on shares of Advanced Micro Devices and gave the company a “hold” rating in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $278.54.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $210.78 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.68 and a current ratio of 2.31. The firm has a market capitalization of $343.16 billion, a price-to-earnings ratio of 104.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $267.08. The company has a 50 day moving average price of $231.11 and a 200 day moving average price of $179.11.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $9.25 billion during the quarter, compared to analysts’ expectations of $8.76 billion. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Sell-side analysts anticipate 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.