Rhumbline Advisers Buys 17,089 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Rhumbline Advisers increased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,014,359 shares of the semiconductor manufacturer's stock after buying an additional 17,089 shares during the quarter. Rhumbline Advisers owned about 0.19% of Advanced Micro Devices worth $309,695,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Abner Herrman & Brock LLC raised its position in shares of Advanced Micro Devices by 0.7% during the first quarter. Abner Herrman & Brock LLC now owns 145,981 shares of the semiconductor manufacturer's stock worth $14,998,000 after purchasing an additional 948 shares during the period. Bowman & Co S.C. raised its position in Advanced Micro Devices by 6.3% during the first quarter. Bowman & Co S.C. now owns 10,092 shares of the semiconductor manufacturer's stock valued at $1,037,000 after buying an additional 594 shares during the period. IVC Wealth Advisors LLC raised its position in Advanced Micro Devices by 9.1% during the first quarter. IVC Wealth Advisors LLC now owns 3,229 shares of the semiconductor manufacturer's stock valued at $332,000 after buying an additional 268 shares during the period. Investors Research Corp raised its position in Advanced Micro Devices by 117.9% during the first quarter. Investors Research Corp now owns 305 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 165 shares during the period. Finally, Avondale Wealth Management raised its position in Advanced Micro Devices by 43.1% during the first quarter. Avondale Wealth Management now owns 10,550 shares of the semiconductor manufacturer's stock valued at $1,084,000 after buying an additional 3,175 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Benchmark reissued a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Truist Financial set a $130.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $125.00 target price (down from $140.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.58.

Advanced Micro Devices Stock Performance

NASDAQ AMD traded up $1.75 during midday trading on Wednesday, hitting $119.06. The company had a trading volume of 17,930,089 shares, compared to its average volume of 41,676,486. The firm has a fifty day simple moving average of $100.55 and a two-hundred day simple moving average of $112.41. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The stock has a market cap of $193.04 billion, a price-to-earnings ratio of 120.26, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

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.