Gabelli Funds LLC Sells 425 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Gabelli Funds LLC trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.0% in the 1st quarter, Holdings Channel reports. The fund owned 41,850 shares of the semiconductor manufacturer’s stock after selling 425 shares during the quarter. Gabelli Funds LLC’s holdings in Advanced Micro Devices were worth $7,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMD. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after purchasing an additional 2,349,288 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Advanced Micro Devices by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock valued at $4,181,849,000 after purchasing an additional 600,638 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after purchasing an additional 2,553,392 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Advanced Micro Devices by 5.9% in the fourth quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after purchasing an additional 1,490,997 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at $3,426,529,000. 71.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AMD shares. Susquehanna reiterated a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday. Citigroup increased their price objective on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. KeyCorp dropped their price objective on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Truist Financial dropped their price objective on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price objective on Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $194.97.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Up 1.2 %

Shares of NASDAQ:AMD traded up $1.67 during trading on Friday, hitting $139.99. 49,435,825 shares of the company’s stock traded hands, compared to its average volume of 50,984,088. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The company has a market cap of $226.27 billion, a price-to-earnings ratio of 205.87, a price-to-earnings-growth ratio of 1.62 and a beta of 1.68. The company has a 50-day moving average price of $163.12 and a 200-day moving average price of $168.24.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business posted $0.43 EPS. Advanced Micro Devices’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.6 EPS for the current fiscal year.

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.