BOCHK Asset Management Ltd Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

BOCHK Asset Management Ltd grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 408.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,621 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,121 shares during the quarter. Advanced Micro Devices comprises approximately 0.4% of BOCHK Asset Management Ltd’s portfolio, making the stock its 29th largest holding. BOCHK Asset Management Ltd’s holdings in Advanced Micro Devices were worth $1,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMD. Cherrydale Wealth Management LLC raised its position in shares of Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $212,000 after buying an additional 58 shares during the period. Christopher J. Hasenberg Inc increased its stake in Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after purchasing an additional 60 shares during the last quarter. Delta Financial Group Inc. raised its position in Advanced Micro Devices by 5.0% in the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after purchasing an additional 63 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in Advanced Micro Devices by 0.3% during the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock worth $3,995,000 after purchasing an additional 65 shares during the period. Finally, Wealth Effects LLC grew its position in Advanced Micro Devices by 0.7% during the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock worth $1,545,000 after purchasing an additional 65 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMD. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Edward Jones started coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. Susquehanna reaffirmed a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Advanced Micro Devices Stock Up 0.3 %

Shares of NASDAQ:AMD traded up $0.47 during mid-day trading on Thursday, hitting $153.38. 13,941,803 shares of the company traded hands, compared to its average volume of 56,825,852. The firm’s 50 day simple moving average is $154.79 and its 200 day simple moving average is $156.43. The firm has a market cap of $247.91 billion, a P/E ratio of 224.65, a PEG ratio of 2.33 and a beta of 1.70. 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, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30.

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

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.