Covenant Asset Management LLC Purchases 10,313 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Covenant Asset Management LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 22.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,477 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,313 shares during the quarter. Advanced Micro Devices accounts for about 1.5% of Covenant Asset Management LLC’s portfolio, making the stock its 8th largest position. Covenant Asset Management LLC’s holdings in Advanced Micro Devices were worth $9,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC boosted its holdings in Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after acquiring an additional 7,815,305 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Advanced Micro Devices by 52.6% during 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. Assenagon Asset Management S.A. grew its stake in shares of Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Advanced Micro Devices in the 2nd quarter worth about $296,178,000. Finally, Swedbank AB bought a new stake in Advanced Micro Devices in the 1st quarter worth about $290,842,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $137.21 on Friday. The company has a 50 day moving average price of $153.95 and a 200-day moving average price of $154.70. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $222.67 billion, a PE ratio of 123.61, a P/E/G ratio of 1.93 and a beta of 1.71. Advanced Micro Devices, Inc. has a 52 week low of $116.37 and a 52 week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMD has been the topic of a number of research analyst reports. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Benchmark restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Morgan Stanley lowered their target price on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, TD Cowen decreased their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

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.