Sycomore Asset Management Buys 173,088 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sycomore Asset Management raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 253.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,406 shares of the semiconductor manufacturer’s stock after purchasing an additional 173,088 shares during the period. Advanced Micro Devices comprises 7.6% of Sycomore Asset Management’s investment portfolio, making the stock its 2nd biggest position. Sycomore Asset Management’s holdings in Advanced Micro Devices were worth $35,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in Advanced Micro Devices by 2.2% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 91,079 shares of the semiconductor manufacturer’s stock worth $13,426,000 after purchasing an additional 1,920 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Advanced Micro Devices by 0.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 135,974 shares of the semiconductor manufacturer’s stock worth $20,044,000 after purchasing an additional 435 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $659,000. Mizuho Securities Co. Ltd. lifted its stake in Advanced Micro Devices by 639.4% in the fourth quarter. Mizuho Securities Co. Ltd. now owns 25,510 shares of the semiconductor manufacturer’s stock valued at $3,760,000 after buying an additional 22,060 shares during the last quarter. Finally, Schnieders Capital Management LLC lifted its stake in Advanced Micro Devices by 3.7% in the fourth quarter. Schnieders Capital Management LLC now owns 11,979 shares of the semiconductor manufacturer’s stock valued at $1,766,000 after buying an additional 425 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity

In other news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the sale, the executive vice president now owns 258,690 shares in the company, valued at $45,513,918.60. The disclosure for this sale can be found here. Insiders have sold 341,143 shares of company stock worth $62,580,844 over the last three months. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMD has been the subject of a number of research reports. Barclays boosted their price objective on Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Truist Financial boosted their price objective on Advanced Micro Devices from $154.00 to $174.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Wells Fargo & Company boosted their price objective on Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price objective on Advanced Micro Devices from $115.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Finally, Evercore ISI initiated coverage on Advanced Micro Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $200.00 target price on the stock. Four analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $185.59.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded down $0.53 during trading hours on Wednesday, hitting $151.74. The stock had a trading volume of 43,358,590 shares, compared to its average volume of 73,559,477. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86. The stock has a market capitalization of $245.23 billion, a price-to-earnings ratio of 291.81, a PEG ratio of 2.26 and a beta of 1.64. Advanced Micro Devices, Inc. has a 1-year low of $81.02 and a 1-year high of $227.30. The stock’s fifty day moving average is $178.25 and its two-hundred day moving average is $149.89.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. Advanced Micro Devices’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current fiscal year.

About Advanced Micro Devices

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.