Novem Group Invests $570,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Novem Group purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,722 shares of the semiconductor manufacturer's stock, valued at approximately $570,000.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Truist Financial set a $130.00 price target on Advanced Micro Devices in a research report on Wednesday, February 5th. TD Cowen boosted their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Robert W. Baird cut their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Sanford C. Bernstein decreased their price target 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. Finally, Melius Research set a $110.00 price objective on Advanced Micro Devices in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $132.58.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company'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 directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Advanced Micro Devices Trading Down 0.4%

Shares of NASDAQ:AMD traded down $0.40 on Monday, reaching $110.31. 30,813,460 shares of the company traded hands, compared to its average volume of 42,293,149. The business's 50-day simple moving average is $100.00 and its 200 day simple moving average is $113.61. 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, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The stock has a market capitalization of $178.86 billion, a P/E ratio of 111.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

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, beating 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 company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the business posted $0.62 EPS. The firm's revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

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.