Cypress Capital Group Has $1.88 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Cypress Capital Group increased its stake in Advanced Micro Devices, Inc. (AMD) by 11.1%, owning a total of 18,320 shares valued at $1,882,000 after acquiring an additional 1,831 shares in Q1.
• Several analysts have revised their ratings and target prices for AMD, with Barclays raising its target from $130 to $200 and Susquehanna increasing its target from $135 to $210.
• Advanced Micro Devices reported a miss in EPS at $0.48 against an estimate of $0.54, despite revenue for the quarter increasing by 31.7% year-over-year to $7.69 billion.

Cypress Capital Group increased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,320 shares of the semiconductor manufacturer's stock after buying an additional 1,831 shares during the period. Cypress Capital Group's holdings in Advanced Micro Devices were worth $1,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Advanced Micro Devices by 169.7% during the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock worth $1,012,538,000 after buying an additional 6,200,850 shares during the period. Toronto Dominion Bank grew its stake 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 worth $660,475,000 after buying an additional 4,461,609 shares during the period. Nuveen LLC purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $436,746,000. Kovitz Investment Group Partners LLC grew its stake in Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after buying an additional 2,889,739 shares during the period. Finally, Northern Trust Corp grew its stake in Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after buying an additional 2,874,012 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the firm's 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 sale, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul Darren Grasby sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the sale, the executive vice president owned 125,505 shares in the company, valued at approximately $21,738,721.05. The trade was a 7.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock traded up $9.47 during midday trading on Wednesday, hitting $184.42. The company had a trading volume of 108,009,213 shares, compared to its average volume of 46,756,836. The business's 50 day simple moving average is $146.86 and its two-hundred day simple moving average is $118.91. The stock has a market cap of $299.28 billion, a PE ratio of 105.99, a P/E/G ratio of 1.99 and a beta of 1.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.81. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $186.65.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The company's revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMD. Truist Financial boosted their price objective on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Morgan Stanley decreased their target price on shares of Advanced Micro Devices from $185.00 to $168.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Erste Group Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Robert W. Baird decreased their target price on shares of 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. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $179.21.

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.