Gabelli Funds LLC Trims Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Gabelli Funds LLC lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMDFree Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,275 shares of the semiconductor manufacturer’s stock after selling 125 shares during the period. Gabelli Funds LLC’s holdings in Advanced Micro Devices were worth $6,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Spartan Planning & Wealth Management bought a new stake in Advanced Micro Devices in the third quarter worth $27,000. Bare Financial Services Inc bought a new stake in Advanced Micro Devices during the 4th quarter valued at about $29,000. MeadowBrook Investment Advisors LLC purchased a new position in Advanced Micro Devices in the fourth quarter worth about $29,000. Gables Capital Management Inc. bought a new position in shares of Advanced Micro Devices in the fourth quarter worth approximately $29,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $30,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $167.87 on Friday. The firm has a market capitalization of $271.33 billion, a PE ratio of 246.87, a price-to-earnings-growth ratio of 1.91 and a beta of 1.69. Advanced Micro Devices, Inc. has a 12-month low of $93.11 and a 12-month high of $227.30. The firm has a 50-day moving average price of $161.33 and a 200-day moving average price of $161.07. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.62 EPS for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total value of $24,391,250.00. Following the transaction, the chief executive officer now owns 3,222,230 shares of the company’s stock, valued at approximately $628,753,739.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares in the company, valued at approximately $255,343,378.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $195.13, for a total value of $24,391,250.00. Following the transaction, the chief executive officer now owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The disclosure for this sale can be found here. Insiders have sold 157,400 shares of company stock valued at $30,077,126 in the last quarter. 0.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMD shares. Roth Mkm lowered their price objective on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $175.00 price objective (down from $195.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. TD Cowen upped their target price on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. HSBC upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $225.00 in a research note on Tuesday, April 16th. Finally, Cantor Fitzgerald dropped their target price on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.26.

View Our Latest Stock Report on AMD

About Advanced Micro Devices

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.