Maverick Capital Ltd. Purchases 493,763 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Maverick Capital Ltd. increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 108.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 949,785 shares of the semiconductor manufacturer’s stock after purchasing an additional 493,763 shares during the period. Advanced Micro Devices accounts for approximately 3.0% of Maverick Capital Ltd.’s portfolio, making the stock its 9th largest position. Maverick Capital Ltd. owned 0.06% of Advanced Micro Devices worth $155,841,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Creative Capital Management Investments LLC raised its holdings in Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its stake in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares in the last quarter. Morton Brown Family Wealth LLC raised its stake in 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 acquiring an additional 85 shares in the last quarter. Fairway Wealth LLC purchased a new stake in Advanced Micro Devices in the second quarter valued at $27,000. Finally, Ridgewood Investments LLC acquired a new position in Advanced Micro Devices in the second quarter valued at $35,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 80,000 shares of the 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 sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the subject of several research reports. Barclays reduced their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Evercore ISI boosted their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. UBS Group reduced their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Bank of America reissued a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Up 0.7 %

AMD opened at $137.18 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The company has a market cap of $222.62 billion, a price-to-earnings ratio of 123.59, a PEG ratio of 1.88 and a beta of 1.71. Advanced Micro Devices, Inc. has a one year low of $116.37 and a one year high of $227.30. The business’s fifty day moving average is $152.16 and its two-hundred day moving average is $154.06.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. Analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Advanced Micro Devices Company 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.