Royal London Asset Management Ltd. Raises Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Royal London Asset Management Ltd. grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 710,726 shares of the semiconductor manufacturer’s stock after purchasing an additional 18,622 shares during the period. Royal London Asset Management Ltd.’s holdings in Advanced Micro Devices were worth $116,616,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. CX Institutional boosted its position in shares of Advanced Micro Devices by 5.4% in the 2nd quarter. CX Institutional now owns 9,698 shares of the semiconductor manufacturer’s stock worth $1,573,000 after buying an additional 501 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in Advanced Micro Devices in the 2nd quarter valued at about $282,000. Global Trust Asset Management LLC raised its stake in Advanced Micro Devices by 80.0% in the 2nd quarter. Global Trust Asset Management LLC now owns 225 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. BDF Gestion acquired a new position in Advanced Micro Devices in the 2nd quarter valued at about $13,255,000. Finally, OLD National Bancorp IN raised its stake in Advanced Micro Devices by 34.0% in the 2nd quarter. OLD National Bancorp IN now owns 13,711 shares of the semiconductor manufacturer’s stock valued at $2,224,000 after purchasing an additional 3,480 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on AMD shares. Evercore ISI boosted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, Rosenblatt Securities reaffirmed 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

AMD stock opened at $143.99 on Thursday. 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 firm has a market cap of $233.67 billion, a P/E ratio of 129.72, a P/E/G ratio of 1.96 and a beta of 1.65. Advanced Micro Devices, Inc. has a 12-month low of $116.38 and a 12-month high of $227.30. The stock’s 50 day simple moving average is $151.18 and its 200 day simple moving average is $153.66.

Advanced Micro Devices (NASDAQ:AMD) last posted 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. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction 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 directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

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.