Argonautica Private Wealth Management Inc. Acquires 23,157 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Argonautica Private Wealth Management Inc. raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 144.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,223 shares of the semiconductor manufacturer's stock after purchasing an additional 23,157 shares during the quarter. Advanced Micro Devices accounts for approximately 1.4% of Argonautica Private Wealth Management Inc.'s investment portfolio, making the stock its 17th biggest holding. Argonautica Private Wealth Management Inc.'s holdings in Advanced Micro Devices were worth $4,030,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMD. Carnegie Investment Counsel lifted its stake in Advanced Micro Devices by 5.3% in the 1st quarter. Carnegie Investment Counsel now owns 43,829 shares of the semiconductor manufacturer's stock valued at $4,503,000 after buying an additional 2,211 shares in the last quarter. Machina Capital S.A.S. lifted its stake in Advanced Micro Devices by 125.4% in the 1st quarter. Machina Capital S.A.S. now owns 21,150 shares of the semiconductor manufacturer's stock valued at $2,173,000 after buying an additional 11,765 shares in the last quarter. Noesis Capital Mangement Corp raised its holdings in Advanced Micro Devices by 6.6% in the 1st quarter. Noesis Capital Mangement Corp now owns 90,293 shares of the semiconductor manufacturer's stock valued at $9,277,000 after acquiring an additional 5,566 shares during the last quarter. AE Wealth Management LLC raised its holdings in Advanced Micro Devices by 18.4% in the 1st quarter. AE Wealth Management LLC now owns 293,374 shares of the semiconductor manufacturer's stock valued at $30,141,000 after acquiring an additional 45,539 shares during the last quarter. Finally, M1 Capital Management LLC acquired a new stake in Advanced Micro Devices in the 1st quarter valued at about $243,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 10th. Jefferies Financial Group increased their price target on shares of Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. Wedbush reissued an "outperform" rating and issued a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Piper Sandler set a $270.00 target price on shares of Advanced Micro Devices and gave the company an "overweight" rating in a report on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $154.68.

Advanced Micro Devices Trading Up 2.7%

Shares of AMD stock traded up $4.35 during trading hours on Friday, reaching $166.47. 53,186,893 shares of the stock traded hands, compared to its average volume of 46,238,572. The business has a fifty day moving average price of $132.24 and a 200 day moving average price of $114.46. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05. The firm has a market capitalization of $269.91 billion, a PE ratio of 122.40, a PEG ratio of 2.20 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm's revenue was up 35.9% on a year-over-year basis. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.