Grange Capital LLC Acquires Stake in Advanced Micro Devices, Inc.

Grange Capital LLC made a strategic move by purchasing a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the fourth quarter, as per their recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,514 shares of AMD, which amounts to an investment valued at approximately $424,000.

In a broader perspective, several other large institutional investors have also been active in buying and selling shares of AMD. Notably, State Street Corp increased its holdings by 2.3% in the third quarter. After adding 1,580,035 shares during this period, State Street now holds a significant 70,170,271 shares, valued at about $11.51 billion. Similarly, Geode Capital Management LLC boosted its stake by 1.3%, owning 34,243,843 shares worth approximately $5.60 billion after acquiring an additional 441,924 shares.

Fisher Asset Management LLC's investment in AMD also saw a rise, with a 2.8% increase in shares during the same quarter. After purchasing 644,039 additional shares, they now own 23,795,236 shares, valued at around $3.90 billion. UBS Asset Management, another key player, grew its position in AMD by 8.7%, now boasting 19,472,211 shares worth approximately $3.20 billion after buying 1,565,083 shares last quarter. Finally, Legal & General Group Plc also expanded its stake by 1.4%, bringing its total to 13,310,158 shares worth $2.16 billion after acquiring an additional 188,580 shares. Overall, about 71.34% of AMD's stock is owned by institutional investors.

Insider Trading Activity

In recent news surrounding AMD, Executive Vice President Forrest Eugene Norrod sold 40,540 shares on November 5th at an average price of $141.67, totaling approximately $5.74 million. This sale marked a 12.14% decrease in his ownership, leaving him with 293,347 shares valued at nearly $41.56 million. Additionally, CEO Lisa T. Su sold 76,496 shares on December 4th for an average price of $142.66, totaling around $10.91 million. Subsequently, she holds 3,566,762 shares, valued at approximately $508.83 million, representing a 2.10% reduction in her position. Over the past 90 days, insiders have sold a total of 197,036 shares valued at about $28.17 million. Currently, company insiders own about 0.73% of AMD's stock.

Current Stock Performance

On the trading front, Advanced Micro Devices stock opened at $122.84 recently. The stock has experienced significant fluctuations, with a 52-week low of $114.41 and a high of $227.30. AMD's market capitalization stands at $199.35 billion, with a PE ratio of 110.67 and a price-to-earnings-growth ratio of 1.09. The stock's beta is recorded at 1.66, indicating higher volatility compared to the market. The firm's average price over the last 50 days is $128.12 while the 200-day average is $143.73. AMD reports a low debt-to-equity ratio of 0.03, quick ratio of 1.78, and a current ratio of 2.50, showing solid liquidity.

The company released its quarterly earnings results on October 29th, posting earnings per share (EPS) of $0.92, matching analysts' expectations. Revenue for the quarter reached $6.82 billion, outperforming the predicted $6.71 billion. AMD's net margins are reported at 7.52% with a return on equity of 6.62%. The quarterly revenue reflects a remarkable 17.6% increase in comparison to the same period last year, wherein the company earned an EPS of $0.53. Analysts forecast an EPS of 2.54 for AMD in the ongoing fiscal year.

Analysts Outlook for AMD

Looking ahead, multiple research analysts have released their assessments on AMD shares. Loop Capital recently initiated coverage, issuing a "buy" rating with a target price of $175.00. Similarly, Cantor Fitzgerald reaffirmed an "overweight" rating and set a target price of $180.00. However, Wells Fargo lowered its target from $205.00 to $165.00 while maintaining an "overweight" rating. Morgan Stanley also adjusted the target from $169.00 to $158.00, giving an "equal weight" rating. Additionally, HSBC downgraded AMD shares from a "strong buy" to a "moderate sell" rating. In total, the consensus among analysts shows two sell ratings, six hold ratings, 21 buy ratings, and two strong buy ratings, culminating in a consensus rating of "Moderate Buy" with a targeted price of $176.33.

About Advanced Micro Devices

Advanced Micro Devices, Inc. is a noteworthy player in the semiconductor industry, operating on a global scale. The company works through various segments including Data Center, Client, Gaming, and Embedded. AMD offers a range of products such as x86 microprocessors, graphics processing units (GPUs), chipsets, and semi-custom system-on-chip (SoC) products, among others.

investment, stocks, performance