GAMMA Investing LLC Raises Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

GAMMA Investing LLC boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12,097.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,008,978 shares of the semiconductor manufacturer's stock after purchasing an additional 1,992,508 shares during the period. GAMMA Investing LLC owned about 0.12% of Advanced Micro Devices worth $206,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $31,000. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Up 2.3%

AMD stock traded up $2.68 during trading on Tuesday, hitting $117.31. The company had a trading volume of 36,766,061 shares, compared to its average volume of 40,533,074. The firm has a market capitalization of $190.21 billion, a P/E ratio of 118.50, a PEG 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 50 day simple moving average of $100.34 and a 200-day simple moving average of $112.37. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. As a group, research 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 of Directors has initiated a share repurchase program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices 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 transaction, the executive vice president now 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 document filed with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. DZ Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a report on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and issued a $125.00 price objective (down from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. HSBC raised shares of Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Loop Capital reduced their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Raymond James reissued an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Fifteen 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 company's stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of "Moderate Buy" and an average price target 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.