Steel Grove Capital Advisors LLC Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Steel Grove Capital Advisors LLC purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,510 shares of the semiconductor manufacturer’s stock, valued at approximately $273,000.

A number of other large investors also recently made changes to their positions in AMD. LRI Investments LLC bought a new stake in shares of Advanced Micro Devices in the 1st quarter valued at $338,000. 1832 Asset Management L.P. increased its position in shares of Advanced Micro Devices by 70.6% in the 1st quarter. 1832 Asset Management L.P. now owns 137,102 shares of the semiconductor manufacturer’s stock valued at $24,746,000 after buying an additional 56,736 shares in the last quarter. Linscomb Wealth Inc. increased its position in shares of Advanced Micro Devices by 8.6% in the 1st quarter. Linscomb Wealth Inc. now owns 13,115 shares of the semiconductor manufacturer’s stock valued at $2,367,000 after buying an additional 1,042 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Advanced Micro Devices by 74.5% in the 1st quarter. Truvestments Capital LLC now owns 2,806 shares of the semiconductor manufacturer’s stock valued at $506,000 after buying an additional 1,198 shares in the last quarter. Finally, Quadrature Capital Ltd increased its position in shares of Advanced Micro Devices by 48.6% in the 1st quarter. Quadrature Capital Ltd now owns 932,873 shares of the semiconductor manufacturer’s stock valued at $168,337,000 after buying an additional 305,242 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on AMD shares. KeyCorp lowered their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Citigroup increased their target price on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. UBS Group lowered their target price on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Evercore ISI lowered their target price on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $194.97.

Advanced Micro Devices Stock Performance

Shares of AMD traded up $1.67 during mid-day trading on Friday, hitting $139.99. 49,435,825 shares of the company’s stock were exchanged, 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 stock’s 50-day simple moving average is $163.12 and its 200-day simple moving average is $168.24. The firm 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 quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.6 EPS for the current year.

Insider Activity at Advanced Micro Devices

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

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.