Advanced Micro Devices, Inc. (NASDAQ:AMD) is Jennison Associates LLC’s 6th Largest Position

Jennison Associates LLC lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,886,280 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,490,997 shares during the quarter. Advanced Micro Devices accounts for about 3.0% of Jennison Associates LLC’s holdings, making the stock its 6th largest holding. Jennison Associates LLC owned approximately 1.68% of Advanced Micro Devices worth $3,963,307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMD. Peoples Bank KS purchased a new stake in Advanced Micro Devices during the 3rd quarter valued at about $26,000. Spartan Planning & Wealth Management purchased a new stake in Advanced Micro Devices in the 3rd quarter worth approximately $27,000. Gables Capital Management Inc. purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $29,000. Kathleen S. Wright Associates Inc. purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $30,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Advanced Micro Devices by 54.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 308 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 109 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $148.64 on Tuesday. The company has a market capitalization of $240.22 billion, a PE ratio of 285.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. The business’s fifty day moving average is $179.18 and its 200 day moving average is $149.56. Advanced Micro Devices, Inc. has a fifty-two week low of $81.02 and a fifty-two week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. Advanced Micro Devices’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, April 17th. StockNews.com upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley increased their target price on Advanced Micro Devices from $128.00 to $193.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Bank of America increased their target price on Advanced Micro Devices from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.59.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, Director Joseph A. Householder sold 6,572 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the sale, the director now directly owns 2,197 shares of the company’s stock, valued at $457,151.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at $794,069.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph A. Householder sold 6,572 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $208.08, for a total value of $1,367,501.76. Following the sale, the director now directly owns 2,197 shares in the company, valued at $457,151.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 341,143 shares of company stock worth $62,580,844. Corporate insiders own 0.65% 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.