Maverick Capital Ltd. Acquires 493,763 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Maverick Capital Ltd. raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 108.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 949,785 shares of the semiconductor manufacturer’s stock after buying an additional 493,763 shares during the quarter. Advanced Micro Devices makes up approximately 3.0% of Maverick Capital Ltd.’s holdings, making the stock its 9th largest holding. Maverick Capital Ltd.’s holdings in Advanced Micro Devices were worth $155,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of AMD. LRI Investments LLC acquired a new stake in shares of Advanced Micro Devices during the 1st quarter worth $49,000. EverSource Wealth Advisors LLC grew its position in Advanced Micro Devices by 22.8% during the first quarter. EverSource Wealth Advisors LLC now owns 8,666 shares of the semiconductor manufacturer’s stock valued at $1,564,000 after acquiring an additional 1,607 shares during the period. American Trust acquired a new stake in Advanced Micro Devices during the first quarter worth about $222,000. HM Payson & Co. raised its holdings in shares of Advanced Micro Devices by 8.3% in the 1st quarter. HM Payson & Co. now owns 3,894 shares of the semiconductor manufacturer’s stock worth $703,000 after purchasing an additional 300 shares during the period. Finally, Old Port Advisors acquired a new position in shares of Advanced Micro Devices in the 1st quarter valued at about $215,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 0.7 %

Shares of NASDAQ AMD opened at $137.18 on Friday. Advanced Micro Devices, Inc. has a 12-month low of $116.37 and a 12-month high of $227.30. The company has a market cap of $222.62 billion, a price-to-earnings ratio of 123.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.71. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $152.16 and its 200 day simple moving average is $154.06.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities research analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMD shares. Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Citigroup dropped their price objective on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. TD Cowen reduced their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America reiterated a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.79.

Insider Buying and Selling at Advanced Micro Devices

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