Natixis Advisors LLC Acquires 59,945 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

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Natixis Advisors LLC increased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 800,296 shares of the semiconductor manufacturer's stock after purchasing an additional 59,945 shares during the quarter. Natixis Advisors LLC's holdings in Advanced Micro Devices were worth $82,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. NorthRock Partners LLC boosted its stake in shares of Advanced Micro Devices by 10.1% in the first quarter. NorthRock Partners LLC now owns 29,034 shares of the semiconductor manufacturer's stock valued at $2,983,000 after purchasing an additional 2,675 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of Advanced Micro Devices by 7.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 5,005 shares of the semiconductor manufacturer's stock valued at $514,000 after purchasing an additional 354 shares during the period. Dearborn Partners LLC bought a new position in Advanced Micro Devices during the 1st quarter valued at $499,000. Arkadios Wealth Advisors boosted its stake in Advanced Micro Devices by 24.5% during the 1st quarter. Arkadios Wealth Advisors now owns 21,937 shares of the semiconductor manufacturer's stock valued at $2,254,000 after acquiring an additional 4,316 shares during the last quarter. Finally, First National Trust Co boosted its stake in Advanced Micro Devices by 1.8% during the 1st quarter. First National Trust Co now owns 39,588 shares of the semiconductor manufacturer's stock valued at $4,067,000 after acquiring an additional 684 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on AMD shares. Sanford C. Bernstein increased their price objective on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Jefferies Financial Group increased their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a report on Wednesday, July 16th. Piper Sandler set a $270.00 target price on shares of Advanced Micro Devices and gave the stock an "overweight" rating in a report on Thursday, July 10th. Barclays increased their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Evercore ISI set a $144.00 target price on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $162.94.

Advanced Micro Devices Stock Down 3.2%

Shares of AMD stock traded down $5.56 during trading on Friday, hitting $170.75. 19,023,805 shares of the company were exchanged, compared to its average volume of 44,284,082. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The firm has a market capitalization of $276.86 billion, a price-to-earnings ratio of 125.27, a P/E/G ratio of 2.37 and a beta of 2.05. The business's 50-day simple moving average is $137.35 and its 200 day simple moving average is $116.10. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $182.50.

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 business had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has authorized 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 buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.