VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 119,400 Shares of Advanced Micro Devices, Inc. $AMD

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 224.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,500 shares of the semiconductor manufacturer’s stock after buying an additional 119,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Advanced Micro Devices were worth $27,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wise Wealth Partners purchased a new stake in shares of Advanced Micro Devices in the second quarter valued at approximately $343,000. Waterfront Wealth Inc. acquired a new stake in shares of Advanced Micro Devices in the 2nd quarter worth $1,145,000. Parisi Gray Wealth Management purchased a new position in shares of Advanced Micro Devices during the 2nd quarter worth $343,000. Global Retirement Partners LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter valued at about $4,519,000. Finally, Cornercap Investment Counsel Inc. boosted its position in shares of Advanced Micro Devices by 43.3% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 12,245 shares of the semiconductor manufacturer’s stock valued at $1,738,000 after acquiring an additional 3,702 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $300.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. KGI Securities set a $260.00 price target on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a report on Monday, October 13th. Mizuho lifted their price target on shares of Advanced Micro Devices from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Stifel Nicolaus increased their price objective on Advanced Micro Devices from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Evercore ISI raised their target price on Advanced Micro Devices from $270.00 to $283.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.06.

Advanced Micro Devices Price Performance

AMD opened at $215.34 on Wednesday. The stock’s 50-day moving average price is $227.45 and its 200 day moving average price is $187.98. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $267.08. The firm has a market cap of $350.58 billion, a price-to-earnings ratio of 106.60, a PEG ratio of 1.60 and a beta of 1.93. 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 released its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share 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 the consensus estimate of $8.76 billion. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.Advanced Micro Devices’s revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,450 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $229.37, for a total transaction of $4,461,246.50. Following the sale, the executive vice president directly owned 300,348 shares of the company’s stock, valued at $68,890,820.76. This represents a 6.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $648,196.68. Following the completion of the transaction, the senior vice president directly owned 9,033 shares of the company’s stock, valued at $2,041,548.33. This represents a 24.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 181,226 shares of company stock worth $39,877,820. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.