Perigon Wealth Management LLC Has $5.62 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Perigon Wealth Management LLC lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 24.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,711 shares of the semiconductor manufacturer's stock after purchasing an additional 10,645 shares during the quarter. Perigon Wealth Management LLC's holdings in Advanced Micro Devices were worth $5,621,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $65,897,000. Vanguard Group Inc. grew its position in Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock valued at $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Toronto Dominion Bank increased its stake in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. raised its holdings in Advanced Micro Devices by 56.4% during the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after buying an additional 1,271 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock valued at $2,909,350,000 after buying an additional 290,784 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMD shares. Piper Sandler boosted their target price on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Cantor Fitzgerald reissued an "overweight" rating on shares of Advanced Micro Devices in a report on Monday, June 9th. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Hsbc Global Res raised Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Finally, Melius upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $138.19.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $143.68 on Friday. The firm has a market cap of $232.96 billion, a P/E ratio of 105.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.99. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The company's 50 day moving average is $111.93 and its 200-day moving average is $111.10. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for 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 business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. The trade was 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 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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