Gainplan LLC Buys New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Gainplan LLC purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,554 shares of the semiconductor manufacturer’s stock, valued at approximately $468,000.

Other hedge funds also recently made changes to their positions in the company. Naples Global Advisors LLC increased its position in shares of Advanced Micro Devices by 8.8% during the 1st quarter. Naples Global Advisors LLC now owns 43,832 shares of the semiconductor manufacturer’s stock worth $4,503,000 after purchasing an additional 3,538 shares during the last quarter. Grassi Investment Management increased its holdings in shares of Advanced Micro Devices by 2.0% in the first quarter. Grassi Investment Management now owns 143,980 shares of the semiconductor manufacturer’s stock valued at $14,793,000 after purchasing an additional 2,850 shares during the last quarter. Beacon Financial Group raised its position in shares of Advanced Micro Devices by 21.1% in the first quarter. Beacon Financial Group now owns 2,999 shares of the semiconductor manufacturer’s stock valued at $308,000 after purchasing an additional 522 shares during the period. Channel Wealth LLC lifted its stake in shares of Advanced Micro Devices by 5.1% during the 1st quarter. Channel Wealth LLC now owns 17,520 shares of the semiconductor manufacturer’s stock worth $1,800,000 after buying an additional 854 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC boosted its holdings in shares of Advanced Micro Devices by 5.6% during the 1st quarter. Warren Street Wealth Advisors LLC now owns 2,596 shares of the semiconductor manufacturer’s stock worth $267,000 after buying an additional 137 shares during the period. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction that occurred 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 directly 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 legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. Hsbc Global Res raised Advanced Micro Devices from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $120.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Sanford C. Bernstein reduced their target price on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Finally, Raymond James reaffirmed an “outperform” rating and set a $120.00 price target (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.58.

Advanced Micro Devices Stock Up 1.1%

Shares of AMD opened at $118.58 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The stock has a market capitalization of $192.27 billion, a price-to-earnings ratio of 119.78, a PEG ratio of 1.11 and a beta of 1.97. The stock has a fifty day moving average of $100.86 and a 200-day moving average of $112.45.

Advanced Micro Devices (NASDAQ:AMD) last issued its 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 return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has approved a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management 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.