Miracle Mile Advisors LLC Acquires 1,676 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Miracle Mile Advisors LLC raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,182 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,676 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Advanced Micro Devices were worth $3,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMD. State Street Corp boosted its position in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after buying an additional 441,924 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Advanced Micro Devices by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Advanced Micro Devices by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after acquiring an additional 1,565,083 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in 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 acquiring an additional 188,580 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMD shares. StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Company decreased their price target on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday. Barclays dropped their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Mizuho dropped their target price on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.44.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on 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 completion of 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 represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is owned by company insiders.

Advanced Micro Devices Trading Up 1.1 %

AMD stock opened at $117.32 on Tuesday. Advanced Micro Devices, Inc. has a 52-week low of $114.41 and a 52-week high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market cap of $190.39 billion, a P/E ratio of 105.69, a PEG ratio of 1.88 and a beta of 1.66. The company’s 50-day simple moving average is $132.11 and its 200-day simple moving average is $146.27.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. Advanced Micro Devices’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

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.