Bay Rivers Group Acquires 594 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bay Rivers Group grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,965 shares of the semiconductor manufacturer’s stock after acquiring an additional 594 shares during the period. Advanced Micro Devices comprises 2.1% of Bay Rivers Group’s holdings, making the stock its 21st largest holding. Bay Rivers Group’s holdings in Advanced Micro Devices were worth $4,260,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Advanced Micro Devices by 1.6% in 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 stake in Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after purchasing an additional 188,580 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after acquiring an additional 2,979,204 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Advanced Micro Devices by 42.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after purchasing an additional 2,497,056 shares during the last quarter. Finally, GQG Partners LLC increased its holdings in Advanced Micro Devices by 5.0% during the 1st quarter. GQG Partners LLC now owns 8,044,462 shares of the semiconductor manufacturer’s stock worth $1,451,945,000 after purchasing an additional 382,582 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 1.9 %

Shares of NASDAQ AMD traded up $3.07 during midday trading on Tuesday, hitting $162.99. 25,351,859 shares of the company traded hands, compared to its average volume of 56,490,645. Advanced Micro Devices, Inc. has a 12-month low of $94.07 and a 12-month high of $227.30. The firm has a market cap of $263.44 billion, a P/E ratio of 238.32, a P/E/G ratio of 2.33 and a beta of 1.70. The stock has a 50-day moving average price of $155.15 and a 200 day moving average price of $156.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMD. KeyCorp decreased their price target on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company lifted their price target on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Piper Sandler raised their target price on Advanced Micro Devices from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

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.