Gabelli Funds LLC Cuts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Gabelli Funds LLC reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,850 shares of the semiconductor manufacturer’s stock after selling 425 shares during the period. Gabelli Funds LLC’s holdings in Advanced Micro Devices were worth $7,554,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Chase Investment Counsel Corp increased its position in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock valued at $1,772,000 after purchasing an additional 87 shares during the last quarter. Washburn Capital Management Inc. purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at $231,000. Pathway Financial Advisors LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at $229,000. Independence Bank of Kentucky grew its position in shares of Advanced Micro Devices by 84.1% in the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after buying an additional 1,677 shares during the last quarter. Finally, Fortis Capital Advisors LLC grew its position in shares of Advanced Micro Devices by 137.8% in the 4th quarter. Fortis Capital Advisors LLC now owns 12,485 shares of the semiconductor manufacturer’s stock valued at $1,840,000 after buying an additional 7,235 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ:AMD traded up $1.67 during mid-day 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. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. The firm’s 50 day simple moving average is $163.12 and its 200 day simple moving average is $168.24. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. The company has a market cap of $226.27 billion, a PE ratio of 205.87, a price-to-earnings-growth ratio of 1.62 and a beta of 1.68.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.6 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were 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 directly owns 1,546,227 shares of the company’s stock, valued at $245,757,319.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $285,278,881.50. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of recent analyst reports. Evercore ISI dropped their target price on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Benchmark decreased their price target on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Roth Mkm decreased their price target on shares of Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Jefferies Financial Group initiated coverage on shares of Advanced Micro Devices in a research note on Monday, May 13th. They set a “buy” rating and a $190.00 price target for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $175.00 price target (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.97.

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.