King Luther Capital Management Corp Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

King Luther Capital Management Corp grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 54,994 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,919 shares during the period. King Luther Capital Management Corp’s holdings in Advanced Micro Devices were worth $9,023,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in shares of Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after buying an additional 188,580 shares during the last quarter. Van ECK Associates Corp lifted its position in Advanced Micro Devices by 11.3% in the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock valued at $1,471,128,000 after acquiring an additional 975,220 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after purchasing an additional 7,815,305 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Advanced Micro Devices by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 7,495,184 shares of the semiconductor manufacturer’s stock valued at $1,215,998,000 after purchasing an additional 707,705 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMD has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Barclays reduced their price target on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. TD Cowen cut their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Robert W. Baird lowered their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $137.21 on Friday. The stock has a 50-day moving average price of $153.95 and a 200 day moving average price of $154.70. The stock has a market capitalization of $222.67 billion, a P/E ratio of 123.61, a P/E/G ratio of 1.93 and a beta of 1.71. Advanced Micro Devices, Inc. has a 12-month low of $116.37 and a 12-month high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 17.6% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

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.