Allstate Corp Raises Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Allstate Corp increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3,284.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,989 shares of the semiconductor manufacturer’s stock after buying an additional 46,571 shares during the quarter. Allstate Corp’s holdings in Advanced Micro Devices were worth $5,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $2,867,193,000. Van ECK Associates Corp boosted its stake in Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares in the last quarter. State Street Corp grew its position in Advanced Micro Devices by 2.3% during the 3rd 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after buying an additional 1,441,626 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $165,952,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMD. Summit Insights raised Advanced Micro Devices to a “hold” rating in a research report on Tuesday, February 4th. Loop Capital assumed coverage on Advanced Micro Devices in a research note on Tuesday, January 14th. They issued a “buy” rating and a $175.00 price objective for the company. Bank of America dropped their target price on Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Melius downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $160.00 to $129.00 in a report on Tuesday, January 28th. Finally, Melius Research restated a “hold” rating and set a $129.00 price objective (down from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.72.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $103.22 on Friday. The stock has a 50 day moving average of $109.39 and a two-hundred day moving average of $130.90. Advanced Micro Devices, Inc. has a 12 month low of $94.73 and a 12 month high of $187.28. The firm has a market cap of $167.27 billion, a P/E ratio of 104.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Philip Guido bought 4,645 shares of the stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the acquisition, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. This trade represents a 16.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

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.