Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd grew its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 408.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,621 shares of the semiconductor manufacturer’s stock after buying an additional 6,121 shares during the quarter. Advanced Micro Devices comprises about 0.4% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 29th largest position. BOCHK Asset Management Ltd’s holdings in Advanced Micro Devices were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Advanced Micro Devices by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares during the period. Legal & General Group Plc increased its position in Advanced Micro Devices by 1.4% in 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 buying an additional 188,580 shares during the period. Van ECK Associates Corp lifted its stake in Advanced Micro Devices by 52.6% in the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after buying an additional 2,979,204 shares during the last quarter. GQG Partners LLC lifted its stake 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 valued at $1,451,945,000 after buying an additional 382,582 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMD. KeyCorp reduced their price objective on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Wedbush reiterated an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Edward Jones started coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. Finally, Morgan Stanley raised their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $195.00.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded up $0.47 during mid-day trading on Thursday, reaching $153.38. 13,941,803 shares of the stock were exchanged, compared to its average volume of 56,825,852. The company has a market cap of $247.91 billion, a price-to-earnings ratio of 224.65, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30. The firm has a 50-day simple moving average of $154.79 and a 200 day simple moving average of $156.43.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Advanced Micro Devices 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.