British Columbia Investment Management Corp Increases Stake in Advanced Micro Devices, Inc.

During the third quarter, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its investment in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.8%, according to the latest disclosure filed with the Securities and Exchange Commission (SEC). The institutional investor now holds 343,027 shares of the semiconductor company after purchasing an additional 33,466 shares during this period. At the close of the reporting period, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Advanced Micro Devices were valued at approximately $56,284,000.

Recent changes by other institutional investors also show a growing interest in Advanced Micro Devices. Creative Capital Management Investments LLC significantly increased its position by 124.6% in the third quarter, acquiring an additional 86 shares for a total of 155 shares, valued at $25,000. Similarly, ZRC Wealth Management LLC raised its stake by 90.4%, owning 158 shares worth $26,000 after buying 75 more shares. Additionally, Fairway Wealth LLC initiated a new investment position in Advanced Micro Devices valued at $27,000 in the second quarter. Furthermore, Morton Brown Family Wealth LLC grew its holdings by 94.4%, now owning 175 shares. Ridgewood Investments LLC also entered a new stake in Advanced Micro Devices during the same quarter, valued at $35,000. Collectively, institutional investors hold 71.34% of the company’s stock.

Insider Activities at Advanced Micro Devices

In recent insider activities, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices on November 6, at an average price of $143.87, bringing the total transaction value to $11,509,600. Following this sale, she holds 3,566,762 shares of the company, valued at around $513,150,048.94, marking a 2.19% decrease in her ownership. This transaction was documented in a filing with the SEC. Also, EVP Forrest Eugene Norrod sold 40,540 shares on November 5 at an average price of $141.67, totaling $5,743,301.80, resulting in a 12.14% reduction of his stock ownership. Insiders collectively own 0.73% of the shares.

Insights from Wall Street Analysts

Several research firms have weighed in on Advanced Micro Devices. Roth MKM maintained a "buy" rating, setting a target price of $200.00 for the company’s shares as of October 11. Evercore ISI increased its price target from $193.00 to $198.00 and labeled the stock as "outperform" on October 30. Piper Sandler also reaffirmed an "overweight" rating, lowering its target to $180.00 from $200.00. Morgan Stanley decreased its target price from $178.00 to $169.00 while maintaining an "equal weight" rating. Additionally, Cantor Fitzgerald sustained an "overweight" view with a price target of $180.00. Among analysts, one issued a sell rating, three rated it as a hold, twenty-eight advised buying, and one gave a strong buy rating. Based on the available data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Advanced Micro Devices shares experienced a 0.7% increase in trading recently, opening at $137.18. The stock has ranged from a one-year low of $116.37 to a high of $227.30. Advanced Micro Devices possesses a debt-to-equity ratio of 0.03, a current ratio of 2.50, and a quick ratio of 1.78. The company has a market capitalization of $222.62 billion, with a P/E ratio of 123.59, a price-to-earnings-growth ratio of 1.88, and a beta of 1.71.

Advanced Micro Devices reported its earnings on October 29, revealing earnings per share (EPS) of $0.92, consistent with consensus estimates. The company had a net margin of 7.52% and a return on equity of 6.62%. It generated revenue of $6.82 billion, surpassing analyst expectations of $6.71 billion. The revenue increased by 17.6% compared to the same period last year. Analysts predict an EPS of 2.54 for the current fiscal year.

Overview of Advanced Micro Devices

Advanced Micro Devices, Inc. operates as a global semiconductor manufacturer. The company is engaged in several segments, including Data Center, Client, Gaming, and Embedded. It produces x86 microprocessors and graphics processing units (GPUs), as well as semi-custom system-on-chip (SoC) products, among others.

Investment, Shares, AMD