Aurora Private Wealth Inc. Acquires New Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Aurora Private Wealth Inc. purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,511 shares of the semiconductor manufacturer's stock, valued at approximately $4,162,000.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $2,867,193,000. Toronto Dominion Bank lifted its stake in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after acquiring an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after acquiring an additional 2,889,739 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Advanced Micro Devices by 12,097.8% in the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after acquiring an additional 1,992,508 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMD. Wedbush restated an "outperform" rating and set a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Barclays raised their price target on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Bank of America upped their price objective on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Piper Sandler increased their target price on Advanced Micro Devices from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, Hsbc Global Res upgraded Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.19.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded up $0.28 during mid-day trading on Thursday, reaching $143.68. The stock had a trading volume of 57,914,689 shares, compared to its average volume of 42,124,839. The business's 50 day moving average price is $110.81 and its 200 day moving average price is $111.01. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The company has a market cap of $232.96 billion, a P/E ratio of 49.11, a price-to-earnings-growth ratio of 1.85 and a beta of 1.99. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results 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 return on equity of 8.30% and a net margin of 8.03%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the company earned $0.62 EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. Research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Advanced Micro Devices 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.