KLP Kapitalforvaltning AS Buys Shares of 545,547 Advanced Micro Devices, Inc. (NASDAQ:AMD)

KLP Kapitalforvaltning AS acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 545,547 shares of the semiconductor manufacturer's stock, valued at approximately $65,897,000.

Several other hedge funds have also recently bought and sold shares of AMD. Umpqua Bank lifted its stake in shares of Advanced Micro Devices by 25.2% in the fourth quarter. Umpqua Bank now owns 2,699 shares of the semiconductor manufacturer's stock worth $313,000 after buying an additional 543 shares during the last quarter. Sfmg LLC raised its holdings in Advanced Micro Devices by 3.5% in the 4th quarter. Sfmg LLC now owns 54,642 shares of the semiconductor manufacturer's stock worth $6,600,000 after acquiring an additional 1,853 shares during the period. Intellus Advisors LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth $1,886,000. Plancorp LLC boosted its holdings in Advanced Micro Devices by 2.2% during the fourth quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock valued at $620,000 after acquiring an additional 112 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $250,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMD shares. Hsbc Global Res downgraded Advanced Micro Devices from a "strong-buy" rating to a "moderate sell" rating in a research note on Wednesday, January 8th. Susquehanna reduced their price objective on Advanced Micro Devices from $165.00 to $150.00 and set a "positive" rating for the company in a research report on Wednesday, February 5th. Truist Financial set a $130.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Barclays reduced their price target on shares of Advanced Micro Devices from $170.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average target price of $155.14.

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Insider Activity

In related news, EVP Philip Guido acquired 4,645 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the transaction, the executive vice president now directly owns 33,522 shares of the company's stock, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded up $7.28 on Monday, reaching $113.72. The company's stock had a trading volume of 27,082,823 shares, compared to its average volume of 43,402,273. Advanced Micro Devices, Inc. has a twelve month low of $94.73 and a twelve month high of $187.28. The company has a market cap of $184.28 billion, a price-to-earnings ratio of 114.87, a PEG ratio of 1.11 and a beta of 1.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The business's fifty day moving average price is $110.28 and its 200 day moving average price is $131.78.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 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.