Pallas Capital Advisors LLC Buys 3,980 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pallas Capital Advisors LLC boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 119.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,309 shares of the semiconductor manufacturer's stock after buying an additional 3,980 shares during the quarter. Pallas Capital Advisors LLC's holdings in Advanced Micro Devices were worth $751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $34,366,000. Revolve Wealth Partners LLC grew its holdings in Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in Advanced Micro Devices by 16,019.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 397,030 shares of the semiconductor manufacturer's stock worth $440,000 after buying an additional 394,567 shares in the last quarter. Finally, Focus Financial Network Inc. grew its holdings in Advanced Micro Devices by 3.8% in the 4th quarter. Focus Financial Network Inc. now owns 10,859 shares of the semiconductor manufacturer's stock worth $1,312,000 after buying an additional 396 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Transactions 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 completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Down 2.0%

Shares of Advanced Micro Devices stock traded down $2.34 during midday trading on Friday, hitting $116.16. The company's stock had a trading volume of 39,620,655 shares, compared to its average volume of 41,413,918. The firm has a market capitalization of $188.34 billion, a P/E ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The stock has a 50-day simple moving average of $104.51 and a 200-day simple moving average of $111.33. 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, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its 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 return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices's revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMD. DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a report on Thursday, May 8th. Melius Research set a $110.00 price objective on Advanced Micro Devices in a report on Wednesday, May 7th. Morgan Stanley decreased their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. KeyCorp lowered Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Finally, HSBC raised Advanced Micro Devices from a "reduce" rating to a "hold" rating in a report on Tuesday, May 27th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.13.

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.