Investment Management Corp of Ontario Buys 17,600 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Investment Management Corp of Ontario raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 48.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,608 shares of the semiconductor manufacturer’s stock after buying an additional 17,600 shares during the quarter. Investment Management Corp of Ontario’s holdings in Advanced Micro Devices were worth $8,796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC boosted its holdings in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC boosted its stake in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC boosted its position in shares of Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC purchased a new stake in shares of Advanced Micro Devices during the second quarter worth approximately $27,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Advanced Micro Devices during the second quarter worth about $35,000. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $142.06 on Tuesday. Advanced Micro Devices, Inc. has a 1 year low of $116.37 and a 1 year high of $227.30. The stock’s 50-day moving average price is $152.16 and its two-hundred day moving average price is $154.03. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $230.54 billion, a PE ratio of 127.98, a PEG ratio of 1.89 and a beta of 1.66.

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

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMD. TD Cowen dropped their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Edward Jones started coverage on Advanced Micro Devices in a research report on Tuesday, August 20th. They issued a “buy” rating on the stock. Finally, Barclays dropped their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.