ARK Investment Management LLC Has $45.83 Million Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

ARK Investment Management LLC grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 310,882 shares of the semiconductor manufacturer’s stock after purchasing an additional 44,502 shares during the period. ARK Investment Management LLC’s holdings in Advanced Micro Devices were worth $45,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMD. Activest Wealth Management acquired a new stake in shares of Advanced Micro Devices during the 3rd quarter worth approximately $26,000. Peoples Bank KS bought a new position in Advanced Micro Devices in the 3rd quarter valued at approximately $26,000. Spartan Planning & Wealth Management bought a new position in Advanced Micro Devices in the 3rd quarter valued at approximately $27,000. Castleview Partners LLC lifted its stake in Advanced Micro Devices by 62.5% in the 2nd quarter. Castleview Partners LLC now owns 234 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 90 shares during the last quarter. Finally, Indiana Trust & Investment Management CO bought a new position in Advanced Micro Devices in the 3rd quarter valued at approximately $31,000. 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 firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Victor Peng sold 100,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now owns 241,266 shares in the company, valued at approximately $42,248,089.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders have sold a total of 324,943 shares of company stock valued at $59,919,994 in the last 90 days. 0.73% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $179.59 on Thursday. Advanced Micro Devices, Inc. has a one year low of $81.02 and a one year high of $227.30. The company’s 50-day moving average is $180.63 and its 200 day moving average is $140.69. The company has a market capitalization of $287.34 billion, a price-to-earnings ratio of 345.37, a price-to-earnings-growth ratio of 2.69 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same period in the prior year, the firm posted $0.54 EPS. Advanced Micro Devices’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, December 7th. Morgan Stanley increased their price objective on shares of Advanced Micro Devices from $128.00 to $193.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised their price target on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. KeyCorp raised their price target on shares of Advanced Micro Devices from $195.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, Truist Financial raised their price target on shares of Advanced Micro Devices from $154.00 to $174.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.82.

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.