Covea Finance Grows Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

by · The Cerbat Gem

Covea Finance grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 36.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,203 shares of the semiconductor manufacturer’s stock after acquiring an additional 47,533 shares during the quarter. Advanced Micro Devices comprises about 1.3% of Covea Finance’s portfolio, making the stock its 28th largest position. Covea Finance’s holdings in Advanced Micro Devices were worth $29,404,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMD. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Advanced Micro Devices by 813.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock worth $685,089,000 after purchasing an additional 4,138,612 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Advanced Micro Devices by 52.6% during the 2nd 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Advanced Micro Devices by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock valued at $20,997,873,000 after acquiring an additional 2,390,558 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Advanced Micro Devices during the 2nd quarter worth $296,178,000. Finally, Swedbank AB acquired a new stake in Advanced Micro Devices in the 1st quarter valued at about $290,842,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Trading Up 2.3 %

Shares of NASDAQ AMD traded up $3.71 during midday trading on Friday, reaching $167.89. 42,136,175 shares of the stock were exchanged, compared to its average volume of 58,067,195. The company has a market capitalization of $271.73 billion, a price-to-earnings ratio of 204.75, a P/E/G ratio of 2.33 and a beta of 1.70. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The business has a 50-day simple moving average of $151.34 and a two-hundred day simple moving average of $157.72.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.72 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Advanced Micro Devices’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Bank of America restated a “buy” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Susquehanna restated a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Finally, Truist Financial dropped their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Check Out Our Latest Research Report on AMD

Advanced Micro Devices Company Profile

(Free Report)

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.

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