British Columbia Investment Management Corp Increases Stake in Advanced Micro Devices

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has raised its investment in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.8% during the third quarter, based on recent reports filed with the Securities and Exchange Commission (SEC). Following this increase, the institutional investor now holds a total of 343,027 shares of the semiconductor company's stock after acquiring an additional 33,466 shares during this time. As of the latest reporting period, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Advanced Micro Devices were valued at approximately $56,284,000.

Many other institutional investors have also taken steps to alter their positions in Advanced Micro Devices recently. For instance, Creative Capital Management Investments LLC increased its stake in the company by 124.6% throughout the third quarter and now owns 155 shares valued at roughly $25,000 after adding 86 shares in the preceding quarter. ZRC Wealth Management LLC also boosted its holdings in Advanced Micro Devices by 90.4%, bringing its total to 158 shares valued at $26,000 after purchasing an additional 75 shares last quarter. Additionally, Fairway Wealth LLC has entered the market with a new position worth $27,000 in the second quarter. Morton Brown Family Wealth LLC has also expanded its stake by 94.4%, resulting in ownership of 175 shares valued at about $27,000 following an increase of 85 shares. Lastly, Ridgewood Investments LLC has made a new investment in Advanced Micro Devices equivalent to $35,000. Notably, institutional investors collectively hold about 71.34% of the company’s shares.

Insider Trading Activities at Advanced Micro Devices

In other recent developments, Advanced Micro Devices CEO Lisa T. Su offloaded 80,000 shares of AMD stock on November 6th, selling at an average price of $143.87, which totaled approximately $11,509,600. Following this transaction, her remaining direct ownership in the company stands at 3,566,762 shares, valued at around $513,150,048.94, reflecting a decrease of 2.19% in her stake. The details of this trade were disclosed in documentation filed with the SEC. Additionally, EVP Forrest Eugene Norrod sold 40,540 shares of the company on November 5th, at an average price of $141.67, resulting in total proceeds of about $5,743,301.80. After the sale, Norrod retains ownership of 293,347 shares, valued at roughly $41,558,469.49, representing a 12.14% decrease in personal stake. Currently, insiders own about 0.73% of the company’s stock.

Analyst Perspectives on Advanced Micro Devices

Numerous research firms have expressed their opinions on Advanced Micro Devices recently. Roth MKM reiterated a "buy" rating and set a target price of $200.00 on AMD shares in a note on October 11th. Meanwhile, Evercore ISI raised their price target from $193.00 to $198.00 and rated the stock as "outperform" on October 30th. Piper Sandler maintained an "overweight" rating and adjusted their target price for AMD from $200.00 to $180.00 on the same day. Morgan Stanley lowered their price target from $178.00 to $169.00 while maintaining an "equal weight" rating for the company. Lastly, Cantor Fitzgerald also expressed an "overweight" rating with a price target of $180.00 as of October 30. In total, one investment analyst has rated the stock as a sell, three have assigned a hold rating, while twenty-eight analysts have recommended buying shares. Overall, Advanced Micro Devices holds an average rating of "Moderate Buy" with a consensus target price estimated at $192.79.

Recent Stock Performance of Advanced Micro Devices

On Friday, shares of NASDAQ AMD opened at $137.18. The company has experienced a one-year low of $116.37 and a high of $227.30. Currently, Advanced Micro Devices shows a debt-to-equity ratio of 0.03, with a current ratio of 2.50, and a quick ratio of 1.78. The 50-day moving average is $152.16, and the 200-day moving average stands at $154.06. Advanced Micro Devices has a market cap of $222.62 billion, a P/E ratio of 123.59, a price-to-earnings-growth ratio of 1.88, and a beta of 1.71. For the most recent quarter, released on October 29th, the company reported earnings per share (EPS) of $0.92, meeting analyst estimates. Its revenue was $6.82 billion, surpassing projected estimates of $6.71 billion, a 17.6% increase compared to the same period last year. Analysts predict that Advanced Micro Devices will report an EPS of 2.54 for the current fiscal year.

Company Background

Advanced Micro Devices, Inc. operates as a global semiconductor company. Its operations are divided into several segments: Data Center, Client, Gaming, and Embedded. The company provides x86 microprocessors, graphics processing units (GPUs), chipsets, professional GPUs, and embedded processors. It also develops semi-custom system-on-chip (SoC) products and offers various technology and development services.

finance, stocks, investment