Accel Wealth Management Has $505,000 Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Accel Wealth Management raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 62.1% in the first quarter, HoldingsChannel.com reports. The fund owned 4,919 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,884 shares during the quarter. Accel Wealth Management’s holdings in Advanced Micro Devices were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of AMD. KLP Kapitalforvaltning AS bought a new stake in Advanced Micro Devices in the 4th quarter valued at $65,897,000. Welch Group LLC increased its holdings 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 valued at $6,179,000 after purchasing an additional 2,981 shares during the last quarter. Vanguard Group Inc. raised its position 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 valued at $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Empire Life Investments Inc. bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at about $717,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $34,366,000. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $117.31 on Wednesday. The business has a fifty day simple moving average of $100.55 and a 200 day simple moving average of $112.41. The company has a market cap of $190.21 billion, a P/E ratio of 118.50, a P/E/G ratio of 1.11 and a beta of 1.97. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28.

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

Advanced Micro Devices declared that its board has approved a share buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMD shares. Wall Street Zen upgraded shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Wedbush restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Piper Sandler reiterated an “overweight” rating and set a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a report on Thursday, May 8th. Fifteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.58.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

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.