EHP Funds Inc. Makes New $3.25 Million Investment in Advanced Micro Devices, Inc. $AMD

EHP Funds Inc. purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,900 shares of the semiconductor manufacturer’s stock, valued at approximately $3,250,000. Advanced Micro Devices comprises about 1.1% of EHP Funds Inc.’s holdings, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Advanced Micro Devices during the second quarter worth about $3,094,662,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Advanced Micro Devices during the second quarter valued at approximately $958,422,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Advanced Micro Devices by 131.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,413,139 shares of the semiconductor manufacturer’s stock valued at $1,069,846,000 after purchasing an additional 5,915,185 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Advanced Micro Devices by 47,883.5% during the 1st quarter. Parnassus Investments LLC now owns 4,142,418 shares of the semiconductor manufacturer’s stock worth $425,592,000 after purchasing an additional 4,133,785 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 154,648,859 shares of the semiconductor manufacturer’s stock worth $21,944,673,000 after purchasing an additional 2,281,508 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Down 4.8%

Advanced Micro Devices stock opened at $210.78 on Friday. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $267.08. The stock has a market cap of $343.16 billion, a price-to-earnings ratio of 104.35, a PEG ratio of 1.64 and a beta of 1.93. The company’s 50-day moving average price is $231.11 and its two-hundred day moving average price is $179.11. The company has a current ratio of 2.31, a quick ratio of 1.68 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last posted 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. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The business had revenue of $9.25 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was up 35.6% on a year-over-year basis. On average, analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 19,450 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president owned 300,348 shares in the company, valued at $68,890,820.76. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark D. Papermaster sold 17,108 shares of the firm’s 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 transaction, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at $411,686,940.60. This represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 183,476 shares of company stock valued at $40,249,093. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMD shares. Jefferies Financial Group set a $300.00 price objective on Advanced Micro Devices and gave the stock a “positive” rating in a research note on Monday, October 6th. Sanford C. Bernstein restated a “market perform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Erste Group Bank cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, November 12th. Finally, Truist Financial restated 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. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.54.

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.