Norges Bank Invests $2.87 Billion in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Norges Bank acquired a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 23,737,003 shares of the semiconductor manufacturer’s stock, valued at approximately $2,867,193,000. Norges Bank owned 1.46% of Advanced Micro Devices at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $25,000. Global Wealth Strategies & Associates acquired a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $32,000. Finally, IAG Wealth Partners LLC boosted its holdings in Advanced Micro Devices by 74.7% in the fourth quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and set a $170.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $175.00 to $129.00 in a report on Friday, January 10th. Wells Fargo & Company reissued an “overweight” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. KeyCorp dropped their target price on Advanced Micro Devices from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Mizuho decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $155.14.

Advanced Micro Devices Trading Down 4.0 %

NASDAQ:AMD opened at $110.19 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $109.99 and a 200 day moving average of $131.31. The firm has a market capitalization of $178.56 billion, a P/E ratio of 111.30, a P/E/G ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a 52 week low of $94.73 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Philip Guido bought 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the completion of the purchase, the executive vice president now owns 33,522 shares in the company, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

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.