Grimes & Company Inc. Raises Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Grimes & Company Inc. boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,895 shares of the semiconductor manufacturer's stock after buying an additional 2,700 shares during the quarter. Grimes & Company Inc.'s holdings in Advanced Micro Devices were worth $13,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices in the fourth quarter worth approximately $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Kozak & Associates Inc. boosted its stake in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Up 8.8%

NASDAQ AMD opened at $126.39 on Tuesday. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The stock has a market cap of $204.93 billion, a P/E ratio of 127.67, a P/E/G ratio of 1.11 and a beta of 1.99. The stock's fifty day moving average price is $105.48 and its 200-day moving average price is $111.08. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released 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 return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was up 35.9% on a year-over-year basis. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of analyst reports. Piper Sandler increased their price objective on Advanced Micro Devices from $125.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday. Sanford C. Bernstein dropped their price objective on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Melius Research set a $110.00 price objective on Advanced Micro Devices in a research note on Wednesday, May 7th. Bank of America increased their price objective on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $132.00 price objective on shares of Advanced Micro Devices in a research note on Friday. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.61.

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.

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