Naples Global Advisors LLC Acquires 3,538 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Naples Global Advisors LLC grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,832 shares of the semiconductor manufacturer’s stock after buying an additional 3,538 shares during the period. Naples Global Advisors LLC’s holdings in Advanced Micro Devices were worth $4,503,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Grassi Investment Management increased its stake in 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 in the last quarter. Beacon Financial Group increased its position in Advanced Micro Devices by 21.1% in the 1st quarter. Beacon Financial Group now owns 2,999 shares of the semiconductor manufacturer’s stock valued at $308,000 after buying an additional 522 shares in the last quarter. Channel Wealth LLC raised its stake in 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 period. Warren Street Wealth Advisors LLC boosted its holdings in Advanced Micro Devices by 5.6% in the first quarter. Warren Street Wealth Advisors LLC now owns 2,596 shares of the semiconductor manufacturer’s stock worth $267,000 after acquiring an additional 137 shares in the last quarter. Finally, Clare Market Investments LLC increased its holdings in shares of Advanced Micro Devices by 394.1% during the first quarter. Clare Market Investments LLC now owns 21,475 shares of the semiconductor manufacturer’s stock valued at $2,206,000 after acquiring an additional 17,129 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMD has been the subject of several research reports. Stifel Nicolaus set a $132.00 price target on shares of Advanced Micro Devices in a research report on Monday, April 28th. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, April 30th. Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Piper Sandler reiterated an “overweight” rating and set a $125.00 price target (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Truist Financial set a $130.00 price objective on Advanced Micro Devices in a research note on Wednesday, February 5th. Fifteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $132.58.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business’s 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 completion of the sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $118.58 on Thursday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $192.27 billion, a PE ratio of 119.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The firm’s 50 day simple moving average is $100.86 and its 200 day simple moving average is $112.45.

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

Advanced Micro Devices announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is 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.