Primoris Wealth Advisors LLC Has $1.74 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Primoris Wealth Advisors LLC reduced its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 49.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,891 shares of the semiconductor manufacturer's stock after selling 16,314 shares during the quarter. Advanced Micro Devices comprises 1.3% of Primoris Wealth Advisors LLC's holdings, making the stock its 26th largest holding. Primoris Wealth Advisors LLC's holdings in Advanced Micro Devices were worth $1,735,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Advanced Micro Devices during the 4th quarter worth about $2,867,193,000. Toronto Dominion Bank boosted its holdings in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Advanced Micro Devices by 2,265.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after acquiring an additional 2,889,739 shares in the last quarter. Northern Trust Corp grew its stake in Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Advanced Micro Devices by 12,097.8% during the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after acquiring an additional 1,992,508 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMD. Stifel Nicolaus reiterated a "buy" rating and issued a $132.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. Bank of America boosted their target price on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Hsbc Global Res raised shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $138.19.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $143.68 on Friday. The company has a market capitalization of $232.96 billion, a P/E ratio of 105.65, a P/E/G ratio of 1.85 and a beta of 1.99. The business has a fifty day simple moving average of $111.93 and a two-hundred day simple moving average of $111.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. 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 announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the firm posted $0.62 EPS. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. On average, analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has initiated a share repurchase 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 generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company's stock.

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.

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