Allstate Corp Raises Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Allstate Corp grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3,284.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,989 shares of the semiconductor manufacturer’s stock after purchasing an additional 46,571 shares during the period. Allstate Corp’s holdings in Advanced Micro Devices were worth $5,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in Advanced Micro Devices in the fourth quarter worth approximately $25,000. Global Wealth Strategies & Associates acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth $29,000. FSA Wealth Management LLC purchased a new position in shares of Advanced Micro Devices during the 3rd quarter worth $41,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido bought 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $107.56 per share, with a total value of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares of the company’s stock, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $103.22 on Friday. The firm has a market capitalization of $167.27 billion, a P/E ratio of 104.26, a P/E/G ratio of 1.11 and a beta of 1.74. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52 week low of $94.73 and a 52 week high of $187.28. The firm’s 50 day moving average is $109.39 and its two-hundred day moving average is $130.90.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly 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 net margin of 6.36% and a return on equity of 7.42%. Research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMD shares. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Hsbc Global Res cut shares of Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research report on Wednesday, January 8th. UBS Group set a $175.00 target price on Advanced Micro Devices in a research report on Wednesday, February 5th. DZ Bank lowered Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, February 7th. Finally, Citigroup reiterated a “buy” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target 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.