DNB Asset Management AS Purchases 2,010,463 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

DNB Asset Management AS raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating) by 674.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,308,675 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,010,463 shares during the period. Advanced Micro Devices makes up about 1.1% of DNB Asset Management AS’s investment portfolio, making the stock its 14th biggest holding. DNB Asset Management AS owned about 0.14% of Advanced Micro Devices worth $149,533,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMD. Buckingham Strategic Wealth LLC increased its position in shares of Advanced Micro Devices by 69.8% during the third quarter. Buckingham Strategic Wealth LLC now owns 5,644 shares of the semiconductor manufacturer’s stock worth $358,000 after acquiring an additional 2,320 shares in the last quarter. Redwood Investment Management LLC increased its position in shares of Advanced Micro Devices by 155.1% during the third quarter. Redwood Investment Management LLC now owns 7,789 shares of the semiconductor manufacturer’s stock worth $494,000 after acquiring an additional 4,736 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Advanced Micro Devices by 33.3% during the second quarter. Cetera Advisors LLC now owns 38,324 shares of the semiconductor manufacturer’s stock worth $2,931,000 after acquiring an additional 9,573 shares in the last quarter. Strs Ohio increased its position in shares of Advanced Micro Devices by 0.3% during the third quarter. Strs Ohio now owns 665,740 shares of the semiconductor manufacturer’s stock worth $42,181,000 after acquiring an additional 1,858 shares in the last quarter. Finally, First Heartland Consultants Inc. increased its position in shares of Advanced Micro Devices by 8.0% during the third quarter. First Heartland Consultants Inc. now owns 4,676 shares of the semiconductor manufacturer’s stock worth $296,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 67.17% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD traded up $1.24 during trading hours on Friday, hitting $97.84. The company had a trading volume of 94,080,842 shares, compared to its average volume of 59,645,996. The firm has a market cap of $157.66 billion, a price-to-earnings ratio of 111.18, a PEG ratio of 5.86 and a beta of 1.95. The business has a fifty day moving average of $79.37 and a 200-day moving average of $72.22. Advanced Micro Devices, Inc. has a 12 month low of $54.57 and a 12 month high of $125.67. The company has a quick ratio of 1.77, a current ratio of 2.36 and a debt-to-equity ratio of 0.05.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Advanced Micro Devices had a net margin of 5.59% and a return on equity of 8.52%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the firm earned $0.83 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $81.69, for a total transaction of $2,450,700.00. Following the transaction, the executive vice president now directly owns 1,516,945 shares of the company’s stock, valued at $123,919,237.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Mark D. Papermaster sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $81.69, for a total transaction of $2,450,700.00. Following the transaction, the executive vice president now directly owns 1,516,945 shares of the company’s stock, valued at $123,919,237.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Rick Bergman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $85.88, for a total transaction of $257,640.00. Following the transaction, the executive vice president now directly owns 155,232 shares in the company, valued at $13,331,324.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,000 shares of company stock valued at $5,264,040. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Advanced Micro Devices in a research report on Wednesday, February 1st. They set a “buy” rating and a $110.00 price objective for the company. KeyCorp increased their target price on shares of Advanced Micro Devices from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, February 1st. Mizuho reduced their target price on shares of Advanced Micro Devices from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, February 1st. Barclays increased their target price on shares of Advanced Micro Devices from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, February 1st. Finally, Citigroup increased their target price on shares of Advanced Micro Devices from $65.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.60.

About Advanced Micro Devices

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Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.