Atom Investors LP Invests $3.08 Million in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Atom Investors LP purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the first quarter, Holdings Channel reports. The firm purchased 31,429 shares of the semiconductor manufacturer’s stock, valued at approximately $3,080,000. Advanced Micro Devices comprises about 1.7% of Atom Investors LP’s holdings, making the stock its 9th largest holding.

Several other large investors also recently bought and sold shares of AMD. Eagle Bay Advisors LLC raised its holdings in shares of Advanced Micro Devices by 50.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 679 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 228 shares during the period. Tucker Asset Management LLC purchased a new position in Advanced Micro Devices during the first quarter worth about $31,000. Grey Fox Wealth Advisors LLC purchased a new position in Advanced Micro Devices during the fourth quarter worth about $37,000. Samalin Investment Counsel LLC boosted its holdings in Advanced Micro Devices by 112.5% in the 1st quarter. Samalin Investment Counsel LLC now owns 340 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 180 shares during the last quarter. Finally, NewSquare Capital LLC grew its stake in shares of Advanced Micro Devices by 170.8% in the 1st quarter. NewSquare Capital LLC now owns 417 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 263 shares during the period. Hedge funds and other institutional investors own 68.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMD. Piper Sandler upped their price objective on Advanced Micro Devices from $110.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. Northland Securities upgraded shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $150.00 in a report on Wednesday, July 5th. Wells Fargo & Company lifted their price target on shares of Advanced Micro Devices from $120.00 to $150.00 in a research report on Wednesday, June 14th. Raymond James increased their price objective on shares of Advanced Micro Devices from $110.00 to $145.00 in a research report on Wednesday, June 14th. Finally, JPMorgan Chase & Co. upped their price target on Advanced Micro Devices from $92.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.19.

Advanced Micro Devices Stock Down 0.5 %

Shares of NASDAQ AMD traded down $0.50 during mid-day trading on Friday, reaching $106.09. The company had a trading volume of 46,271,558 shares, compared to its average volume of 55,660,792. Advanced Micro Devices, Inc. has a 52-week low of $54.57 and a 52-week high of $132.83. The stock has a market cap of $171.41 billion, a P/E ratio of -5,301.85, a PEG ratio of 5.91 and a beta of 1.80. The company has a current ratio of 2.18, a quick ratio of 1.58 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $110.88 and a two-hundred day simple moving average of $103.53.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, August 1st. The semiconductor manufacturer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Advanced Micro Devices had a positive return on equity of 5.69% and a negative net margin of 0.11%. The business’s revenue was down 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.01 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Paul Darren Grasby sold 14,942 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $106.21, for a total transaction of $1,586,989.82. Following the transaction, the executive vice president now directly owns 103,663 shares in the company, valued at $11,010,047.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Mark D. Papermaster sold 31,701 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $111.49, for a total transaction of $3,534,344.49. Following the completion of the sale, the executive vice president now owns 1,513,245 shares in the company, valued at $168,711,685.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Darren Grasby sold 14,942 shares of Advanced Micro Devices stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $106.21, for a total transaction of $1,586,989.82. Following the completion of the transaction, the executive vice president now owns 103,663 shares in the company, valued at $11,010,047.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,643 shares of company stock worth $13,490,584. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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.