Elefante Mark B Makes New $2.80 Million Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Elefante Mark B purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 23,141 shares of the semiconductor manufacturer’s stock, valued at approximately $2,795,000. Advanced Micro Devices makes up about 2.6% of Elefante Mark B’s portfolio, making the stock its 18th largest position.

A number of other large investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $65,897,000. Enzi Wealth acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $569,000. Welch Group LLC increased its stake in shares of Advanced Micro Devices by 6.3% in the fourth quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock worth $6,179,000 after acquiring an additional 2,981 shares during the period. Stonegate Investment Group LLC lifted its holdings in Advanced Micro Devices by 39.5% in the fourth quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer’s stock valued at $61,896,000 after acquiring an additional 145,067 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Advanced Micro Devices by 30.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after purchasing an additional 588,595 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

AMD stock opened at $101.66 on Friday. The business’s 50-day moving average is $97.37 and its two-hundred day moving average is $117.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market capitalization of $164.31 billion, a P/E ratio of 102.69, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen raised their price objective on Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna decreased their target price on Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Melius Research set a $110.00 target price on shares of Advanced Micro Devices in a report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. Finally, Loop Capital decreased their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $131.13.

Advanced Micro Devices Company 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.