Grimes & Company Inc. Boosts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Grimes & Company Inc. increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 127,895 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,700 shares during the quarter. Grimes & Company Inc.’s holdings in Advanced Micro Devices were worth $13,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMD. Norges Bank purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $2,867,193,000. Toronto Dominion Bank lifted its position in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after buying an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock valued at $364,459,000 after buying an additional 2,889,739 shares in the last quarter. Northern Trust Corp lifted its position in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after buying an additional 2,874,012 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Advanced Micro Devices by 12,097.8% during the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer’s stock valued at $206,402,000 after buying an additional 1,992,508 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of analyst reports. Barclays lifted their price objective on Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Wells Fargo & Company decreased their target price on Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Piper Sandler lifted their target price on Advanced Micro Devices from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. Roth Capital set a $150.00 target price on Advanced Micro Devices and gave the company a “buy” rating in a research note on Friday. Finally, Melius Research set a $110.00 target price on Advanced Micro Devices in a research note on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.61.

Advanced Micro Devices Price Performance

AMD opened at $126.39 on Tuesday. The business has a fifty day moving average of $105.48 and a 200 day moving average of $111.08. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The stock has a market cap of $204.93 billion, a P/E ratio of 127.67, a PEG ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Advanced Micro Devices’s revenue 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 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.