Tritonpoint Wealth LLC Purchases 739 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Tritonpoint Wealth LLC lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 36.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,785 shares of the semiconductor manufacturer’s stock after purchasing an additional 739 shares during the period. Tritonpoint Wealth LLC’s holdings in Advanced Micro Devices were worth $286,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Rye Brook Capital LLC lifted its position in shares of Advanced Micro Devices by 3.9% during the first quarter. Rye Brook Capital LLC now owns 13,450 shares of the semiconductor manufacturer’s stock worth $1,382,000 after purchasing an additional 500 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of Advanced Micro Devices by 2.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 11,860 shares of the semiconductor manufacturer’s stock worth $1,219,000 after purchasing an additional 255 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Advanced Micro Devices by 8.6% during the first quarter. CVA Family Office LLC now owns 3,661 shares of the semiconductor manufacturer’s stock worth $376,000 after purchasing an additional 289 shares in the last quarter. Krilogy Financial LLC lifted its position in shares of Advanced Micro Devices by 5.0% during the first quarter. Krilogy Financial LLC now owns 21,793 shares of the semiconductor manufacturer’s stock worth $2,239,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in shares of Advanced Micro Devices by 51.1% during the first quarter. Salem Investment Counselors Inc. now owns 262,344 shares of the semiconductor manufacturer’s stock worth $26,953,000 after purchasing an additional 88,721 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 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 trade represents 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 this hyperlink. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $116.16 on Friday. The stock has a market capitalization of $188.34 billion, a price-to-earnings ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The business has a 50-day moving average of $104.51 and a 200-day moving average of $111.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a share repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMD shares. Hsbc Global Res upgraded shares of Advanced Micro Devices from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 27th. HSBC upgraded shares of Advanced Micro Devices from a “reduce” rating to a “hold” rating in a report on Tuesday, May 27th. Melius Research set a $110.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Roth Capital increased their price objective on shares of Advanced Micro Devices from $125.00 to $150.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays increased their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.13.

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.