Spectrum Planning & Advisory Services Inc. Invests $257,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Spectrum Planning & Advisory Services Inc. purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,499 shares of the semiconductor manufacturer's stock, valued at approximately $257,000.

A number of other large investors have also added to or reduced their stakes in AMD. Brighton Jones LLC raised its stake in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after acquiring an additional 29,438 shares during the period. Union Bancaire Privee UBP SA bought a new position in Advanced Micro Devices during the 4th quarter worth $34,366,000. Revolve Wealth Partners LLC increased its position in Advanced Micro Devices by 2.9% during 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 during the period. Bank Pictet & Cie Europe AG increased its position in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after buying an additional 29,825 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in Advanced Micro Devices by 47.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 3,640 shares of the semiconductor manufacturer's stock worth $440,000 after buying an additional 1,177 shares during the period. Institutional investors own 71.34% of the company's stock.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the 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 completion of the sale, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

AMD stock traded up $1.45 during midday trading on Friday, reaching $128.24. The company had a trading volume of 79,777,415 shares, compared to its average volume of 41,681,040. 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. The company has a market capitalization of $207.93 billion, a P/E ratio of 94.29, a P/E/G ratio of 1.66 and a beta of 1.99. The firm has a 50-day moving average price of $108.14 and a 200-day moving average price of $110.87.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The business's quarterly revenue was up 35.9% compared to the same quarter last year. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMD shares. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Dbs Bank cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Barclays increased their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Melius Research set a $110.00 price objective on Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, TD Cowen lifted their price target on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $134.61.

About Advanced Micro Devices

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.