Jennison Associates LLC Purchases 1,490,997 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Jennison Associates LLC lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 26,886,280 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,490,997 shares during the period. Advanced Micro Devices accounts for 3.0% of Jennison Associates LLC’s investment portfolio, making the stock its 6th biggest holding. Jennison Associates LLC’s holdings in Advanced Micro Devices were worth $3,963,307,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Advanced Micro Devices by 15,896.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock valued at $550,935,000 after purchasing an additional 3,714,069 shares during the last quarter. Sylebra Capital LLC purchased a new stake in Advanced Micro Devices in the third quarter valued at $227,566,000. Atreides Management LP boosted its holdings in Advanced Micro Devices by 114.3% in the third quarter. Atreides Management LP now owns 3,422,730 shares of the semiconductor manufacturer’s stock valued at $351,925,000 after purchasing an additional 1,825,557 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Advanced Micro Devices in the third quarter valued at $169,199,000. Finally, Vanguard Group Inc. boosted its holdings in Advanced Micro Devices by 0.8% in the third quarter. Vanguard Group Inc. now owns 140,054,820 shares of the semiconductor manufacturer’s stock valued at $14,400,437,000 after purchasing an additional 1,153,611 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Advanced Micro Devices

In other news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the sale, the insider now owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The disclosure for this sale can be found here. Insiders sold 341,143 shares of company stock worth $62,580,844 in the last 90 days. Insiders own 0.65% of the company’s stock.

Advanced Micro Devices Stock Up 1.4 %

AMD stock opened at $148.64 on Tuesday. The company has a market cap of $240.22 billion, a price-to-earnings ratio of 285.85, a PEG ratio of 2.23 and a beta of 1.64. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $81.02 and a 12 month high of $227.30. The firm has a 50-day moving average of $179.18 and a two-hundred day moving average of $149.56.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. Advanced Micro Devices’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMD has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. New Street Research raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Wednesday, January 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $190.00 target price on shares of Advanced Micro Devices in a research note on Monday, March 4th. TD Cowen increased their target price on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, UBS Group increased their target price on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average price target of $185.59.

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.