Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Purchased by Blackston Financial Advisory Group LLC

Blackston Financial Advisory Group LLC increased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 18.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,679 shares of the semiconductor manufacturer’s stock after purchasing an additional 419 shares during the period. Blackston Financial Advisory Group LLC’s holdings in Advanced Micro Devices were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Grove Bank & Trust boosted its position in shares of Advanced Micro Devices by 8.1% during the first quarter. Grove Bank & Trust now owns 6,693 shares of the semiconductor manufacturer’s stock worth $688,000 after buying an additional 504 shares during the period. Grimes & Company Inc. lifted its stake in Advanced Micro Devices by 2.2% during the 1st quarter. Grimes & Company Inc. now owns 127,895 shares of the semiconductor manufacturer’s stock worth $13,140,000 after acquiring an additional 2,700 shares in the last quarter. Community Trust & Investment Co. boosted its holdings in Advanced Micro Devices by 2.6% during the 1st quarter. Community Trust & Investment Co. now owns 151,782 shares of the semiconductor manufacturer’s stock valued at $15,594,000 after acquiring an additional 3,792 shares during the period. Boothe Investment Group Inc. grew its position in Advanced Micro Devices by 105.1% in the 1st quarter. Boothe Investment Group Inc. now owns 79,909 shares of the semiconductor manufacturer’s stock valued at $8,210,000 after acquiring an additional 40,948 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Advanced Micro Devices by 4.8% in the 1st quarter. QRG Capital Management Inc. now owns 184,864 shares of the semiconductor manufacturer’s stock valued at $18,993,000 after acquiring an additional 8,515 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on 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 of the company’s stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Piper Sandler raised their price target on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Benchmark restated a “buy” rating and issued a $170.00 price target on shares of Advanced Micro Devices in a research note on Friday. HSBC upgraded Advanced Micro Devices from a “reduce” rating to a “hold” rating in a research note on Tuesday, May 27th. Finally, Robert W. Baird lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.61.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $126.39 on Tuesday. The company’s 50 day simple moving average is $105.48 and its 200-day simple moving average is $111.08. The firm has a market cap of $204.93 billion, a PE ratio of 127.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month 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.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data 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. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the firm posted $0.62 EPS. Advanced Micro Devices’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has approved 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.