Chokshi & Queen Wealth Advisors Inc Takes $302,000 Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Chokshi & Queen Wealth Advisors Inc purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,500 shares of the semiconductor manufacturer's stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMD. Bear Mountain Capital Inc. bought a new position in Advanced Micro Devices in the 4th quarter worth $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth $31,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Trading Down 0.0%

Shares of Advanced Micro Devices stock traded down $0.01 on Thursday, hitting $112.86. 20,808,756 shares of the company traded hands, compared to its average volume of 42,038,482. The stock's 50 day moving average price is $100.36 and its 200-day moving average price is $113.35. 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, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a market cap of $182.98 billion, a PE ratio of 113.80, a PEG ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating 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 firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company's revenue was up 35.9% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred 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 transaction, 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 filing with the SEC, which is available through this link. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AMD has been the subject of a number of analyst reports. Jefferies Financial Group lowered Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price target for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Truist Financial set a $130.00 price objective on Advanced Micro Devices in a research report on Wednesday, February 5th. Wells Fargo & Company cut their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Sanford C. Bernstein cut their price objective on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Fifteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.58.

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.