Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by Clare Market Investments LLC

Clare Market Investments LLC grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 394.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,475 shares of the semiconductor manufacturer's stock after purchasing an additional 17,129 shares during the quarter. Clare Market Investments LLC's holdings in Advanced Micro Devices were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was 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 represents a 1.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Down 2.4%

Shares of NASDAQ:AMD traded down $2.89 during trading hours on Thursday, hitting $115.69. The company's stock had a trading volume of 34,020,989 shares, compared to its average volume of 41,592,088. The company has a market capitalization of $187.58 billion, a price-to-earnings ratio of 116.86, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm's fifty day moving average price is $100.86 and its 200 day moving average price is $112.45.

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

Advanced Micro Devices announced that its Board of Directors 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 typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AMD shares. Sanford C. Bernstein reduced their price objective on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Wedbush reissued an "outperform" rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Evercore ISI lowered their price objective on shares of Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Finally, Piper Sandler restated an "overweight" rating and issued a $125.00 target price (down from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Fifteen research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.58.

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.