Empirical Capital Management LLC Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Empirical Capital Management LLC purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,500 shares of the semiconductor manufacturer’s stock, valued at approximately $3,364,000. Advanced Micro Devices makes up about 2.4% of Empirical Capital Management LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after acquiring an additional 177,700 shares during the period. Swiss National Bank lifted its stake in shares of Advanced Micro Devices by 0.3% in the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after acquiring an additional 12,500 shares during the period. Shum Financial Group Inc. acquired a new position in shares of Advanced Micro Devices in the third quarter worth approximately $858,000. State Street Corp increased its holdings in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares in the last quarter. Finally, Harvest Portfolios Group Inc. increased its holdings in Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock worth $24,029,000 after purchasing an additional 6,168 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Down 1.8 %

AMD stock opened at $141.36 on Friday. The stock’s fifty day simple moving average is $150.65 and its two-hundred day simple moving average is $153.57. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 1-year low of $116.38 and a 1-year high of $227.30. The stock has a market cap of $229.40 billion, a P/E ratio of 127.35, a P/E/G ratio of 1.96 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. Analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America reiterated a “buy” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Evercore ISI lifted their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Edward Jones assumed coverage on Advanced Micro Devices in a report on Tuesday, August 20th. They set a “buy” rating for the company. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Finally, Benchmark restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.59.

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.