Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by Rye Brook Capital LLC

Rye Brook Capital LLC lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,450 shares of the semiconductor manufacturer’s stock after buying an additional 500 shares during the quarter. Advanced Micro Devices makes up about 1.7% of Rye Brook Capital LLC’s investment portfolio, making the stock its 16th largest holding. Rye Brook Capital LLC’s holdings in Advanced Micro Devices were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Bear Mountain Capital Inc. bought a new position in Advanced Micro Devices during the fourth quarter worth $25,000. Greenline Partners LLC bought a new position in Advanced Micro Devices during the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC bought a new position in Advanced Micro Devices during the fourth quarter worth $29,000. Mpwm Advisory Solutions LLC bought a new stake in Advanced Micro Devices in the fourth quarter valued at $30,000. Finally, Summit Securities Group LLC bought a new stake in Advanced Micro Devices in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity

In other 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Trading Down 2.0%

Shares of NASDAQ AMD opened at $116.16 on Friday. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The firm has a market capitalization of $188.34 billion, a PE ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. 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 business has a 50-day moving average price of $104.51 and a two-hundred day moving average price of $111.50.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. As a group, analysts predict 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 authorized a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMD. Melius Research set a $110.00 target price on Advanced Micro Devices in a research note on Wednesday, May 7th. Piper Sandler reiterated an “overweight” rating and issued a $125.00 target price (down from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Raymond James restated an “outperform” rating and set a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.