Chicago Capital LLC Acquires 2,898 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Chicago Capital LLC grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,949 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,898 shares during the period. Chicago Capital LLC’s holdings in Advanced Micro Devices were worth $7,598,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in Advanced Micro Devices during the fourth quarter worth about $65,897,000. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $34,366,000. Toronto Dominion Bank lifted its position in Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Finally, Beta Wealth Group Inc. grew its stake in Advanced Micro Devices by 15.1% in the 4th quarter. Beta Wealth Group Inc. now owns 6,100 shares of the semiconductor manufacturer’s stock worth $737,000 after buying an additional 800 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Up 8.8%

Shares of NASDAQ:AMD opened at $126.39 on Tuesday. 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 stock has a fifty day simple moving average of $105.48 and a two-hundred day simple moving average of $111.08. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The stock has a market capitalization of $204.93 billion, a price-to-earnings 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 results 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. The firm 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%. Advanced Micro Devices’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a share repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were 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 owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Sanford C. Bernstein dropped their price objective on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the company an “outperform” rating in a report on Friday. Robert W. Baird lowered their price objective on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler lifted their target price on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.61.

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.