Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Purchased by Suvretta Capital Management LLC

Suvretta Capital Management LLC increased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,575 shares of the semiconductor manufacturer’s stock after purchasing an additional 577 shares during the period. Advanced Micro Devices accounts for about 1.8% of Suvretta Capital Management LLC’s holdings, making the stock its 16th biggest position. Suvretta Capital Management LLC’s holdings in Advanced Micro Devices were worth $56,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Creative Capital Management Investments LLC raised its holdings in Advanced Micro Devices by 124.6% in the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Morton Brown Family Wealth LLC raised its holdings in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares during the last quarter. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the 2nd quarter valued at $27,000. Finally, Chelsea Counsel Co. acquired a new position in Advanced Micro Devices in the 1st quarter valued at $34,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMD shares. Benchmark reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Citigroup cut their price target on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, October 11th. Bank of America reiterated a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Finally, Barclays dropped their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $136.24 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The firm has a 50-day moving average of $152.53 and a two-hundred day moving average of $154.16. The stock has a market cap of $221.09 billion, a P/E ratio of 122.74, a PEG ratio of 1.95 and a beta of 1.71. Advanced Micro Devices, Inc. has a 1-year low of $116.37 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion during 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 for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. On average, research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 80,000 shares of the company’s 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 sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate 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.