Sumitomo Mitsui Trust Group Inc. Acquires 375,229 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,038,972 shares of the semiconductor manufacturer's stock after purchasing an additional 375,229 shares during the period. Advanced Micro Devices makes up about 0.6% of Sumitomo Mitsui Trust Group Inc.'s investment portfolio, making the stock its 25th biggest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.31% of Advanced Micro Devices worth $826,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer's stock worth $26,133,989,000 after buying an additional 2,349,288 shares during the last quarter. Legal & General Group Plc raised its holdings in Advanced Micro Devices by 1.4% during the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer's stock worth $2,159,039,000 after purchasing an additional 188,580 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Advanced Micro Devices by 11.3% in the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer's stock valued at $1,471,128,000 after buying an additional 975,220 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer's stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares in the last quarter. Finally, GQG Partners LLC grew its position in Advanced Micro Devices by 5.0% in the first quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer's stock worth $1,451,945,000 after buying an additional 382,582 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company's stock, valued at approximately $513,150,048.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares of the company's stock, valued at $41,558,469.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded down $4.47 during trading on Tuesday, reaching $142.88. 24,531,052 shares of the company's stock were exchanged, compared to its average volume of 55,821,918. The firm's fifty day moving average price is $154.41 and its 200-day moving average price is $155.52. Advanced Micro Devices, Inc. has a twelve month low of $116.00 and a twelve month high of $227.30. The stock has a market capitalization of $231.87 billion, a PE ratio of 130.64, a PEG ratio of 2.05 and a beta of 1.71. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS 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 analyst estimates of $6.71 billion. During the same quarter in the prior year, the business earned $0.53 EPS. Advanced Micro Devices's quarterly revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMD shares. Edward Jones started coverage on shares of Advanced Micro Devices in a research report on Tuesday, August 20th. They set a "buy" rating on the stock. Barclays lowered their price target on Advanced Micro Devices from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Truist Financial decreased their target price on Advanced Micro Devices from $162.00 to $156.00 and set a "hold" rating for the company in a research note on Wednesday, July 31st. TD Cowen cut their target price 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. Finally, Roth Mkm reiterated a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.79.

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.