State of Michigan Retirement System Has $164.81 Million Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

State of Michigan Retirement System lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 18.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 913,140 shares of the semiconductor manufacturer’s stock after purchasing an additional 142,400 shares during the period. Advanced Micro Devices accounts for approximately 0.9% of State of Michigan Retirement System’s investment portfolio, making the stock its 17th biggest holding. State of Michigan Retirement System’s holdings in Advanced Micro Devices were worth $164,813,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AMD. Norges Bank bought a new position in Advanced Micro Devices during the 4th quarter worth $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Advanced Micro Devices by 813.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock worth $685,089,000 after purchasing an additional 4,138,612 shares during the period. International Assets Investment Management LLC increased its position in shares of Advanced Micro Devices by 15,896.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after purchasing an additional 3,714,069 shares during the period. Capital World Investors raised its stake in Advanced Micro Devices by 176.9% in the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock valued at $688,190,000 after purchasing an additional 2,982,704 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Advanced Micro Devices by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after purchasing an additional 2,553,392 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by company insiders.

Advanced Micro Devices Trading Up 4.2 %

Shares of AMD stock traded up $6.62 during mid-day trading on Tuesday, hitting $164.31. The company’s stock had a trading volume of 57,741,959 shares, compared to its average volume of 64,969,270. The company’s fifty day simple moving average is $159.30 and its 200-day simple moving average is $165.38. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. The company has a market cap of $265.58 billion, a PE ratio of 241.05, a P/E/G ratio of 1.87 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMD. Morgan Stanley cut shares of Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and set a $176.00 target price for the company. in a research report on Monday, June 10th. Truist Financial lowered their price objective on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Cantor Fitzgerald reduced their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Tuesday, May 7th. Finally, StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Saturday, June 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $190.83.

Advanced Micro Devices Company 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.