Pictet Asset Management Holding SA Raises Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pictet Asset Management Holding SA lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.5% during the fourth quarter, Holdings Channel reports. The fund owned 4,705,588 shares of the semiconductor manufacturer’s stock after acquiring an additional 158,538 shares during the period. Advanced Micro Devices comprises 0.6% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 29th largest position. Pictet Asset Management Holding SA’s holdings in Advanced Micro Devices were worth $568,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $65,897,000. State Street Corp lifted its stake in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC grew its holdings in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares in the last quarter. Enzi Wealth purchased a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $569,000. Finally, Welch Group LLC raised its holdings in shares of Advanced Micro Devices by 6.3% in the 4th quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock valued at $6,179,000 after purchasing an additional 2,981 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $106.65 on Friday. Advanced Micro Devices, Inc. has a 52 week low of $94.73 and a 52 week high of $187.28. The company has a 50-day moving average price of $109.75 and a 200 day moving average price of $131.14. The company has a market cap of $172.82 billion, a P/E ratio of 107.73, a PEG ratio of 1.11 and a beta of 1.74. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, meeting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analyst Weigh In

AMD has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. DZ Bank lowered Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, February 7th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. Summit Insights upgraded shares of Advanced Micro Devices to a “hold” rating in a research report on Tuesday, February 4th. Finally, Melius downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $160.00 to $129.00 in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $152.72.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Philip Guido bought 4,645 shares of the company’s stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the acquisition, the executive vice president now owns 33,522 shares of the company’s stock, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is owned by insiders.

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.