Strategic Investment Advisors MI Raises Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Strategic Investment Advisors MI lifted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,960 shares of the semiconductor manufacturer’s stock after acquiring an additional 150 shares during the quarter. Strategic Investment Advisors MI’s holdings in Advanced Micro Devices were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Main Street Financial Solutions LLC raised its position in shares of Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer’s stock worth $314,000 after acquiring an additional 98 shares in the last quarter. BCM Advisors LLC raised its position in shares of Advanced Micro Devices by 0.9% during the 4th quarter. BCM Advisors LLC now owns 12,197 shares of the semiconductor manufacturer’s stock worth $1,366,000 after acquiring an additional 103 shares in the last quarter. Plancorp LLC raised its position in shares of Advanced Micro Devices by 2.2% during the 4th quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer’s stock worth $620,000 after acquiring an additional 112 shares in the last quarter. Simmons Bank raised its position in shares of Advanced Micro Devices by 5.4% during the 4th quarter. Simmons Bank now owns 2,198 shares of the semiconductor manufacturer’s stock worth $265,000 after acquiring an additional 113 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its position in shares of Advanced Micro Devices by 1.5% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer’s stock worth $957,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMD. Melius Research raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $110.00 to $175.00 in a research report on Monday. Mizuho raised their target price on Advanced Micro Devices from $117.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Piper Sandler raised their target price on Advanced Micro Devices from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Loop Capital cut their price target on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Evercore ISI set a $144.00 price target on Advanced Micro Devices and gave the stock an “outperform” rating in a research report on Friday, June 13th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $138.19.

Advanced Micro Devices Trading Up 3.6%

Shares of AMD stock opened at $143.40 on Thursday. The business’s 50 day moving average is $110.81 and its two-hundred day moving average is $111.01. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The company has a market capitalization of $232.51 billion, a P/E ratio of 105.44, a price-to-earnings-growth ratio of 1.79 and a beta of 1.99. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

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.