Kestra Private Wealth Services LLC boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 5.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 88,745 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,660 shares during the period. Kestra Private Wealth Services LLC’s holdings in Advanced Micro Devices were worth $9,118,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in AMD. Greenline Partners LLC bought a new stake in Advanced Micro Devices in the fourth quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. American Capital Advisory LLC lifted its stake in Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 130 shares during the last quarter. Kozak & Associates Inc. lifted its stake in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in Advanced Micro Devices in the fourth quarter worth $30,000. 71.34% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.
Advanced Micro Devices Price Performance
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.
Advanced Micro Devices announced that its board has approved a share buyback plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AMD. TD Cowen boosted their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. DZ Bank raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Thursday, May 8th. HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Thursday, July 10th. Piper Sandler set a $270.00 price objective on shares of Advanced Micro Devices and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, KeyCorp downgraded shares of Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $153.23.
View Our Latest Research Report on Advanced Micro Devices
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.
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