Ancora Advisors LLC Buys 710 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Ancora Advisors LLC lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 9.2% during the first quarter, Holdings Channel.com reports. The firm owned 8,389 shares of the semiconductor manufacturer’s stock after buying an additional 710 shares during the quarter. Ancora Advisors LLC’s holdings in Advanced Micro Devices were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Dynasty Wealth Management LLC bought a new stake in shares of Advanced Micro Devices in the first quarter valued at about $1,083,000. Oxford Wealth Group LLC acquired a new position in shares of Advanced Micro Devices during the 1st quarter worth approximately $204,000. Industrial Alliance Investment Management Inc. increased its holdings in shares of Advanced Micro Devices by 2.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 4,231 shares of the semiconductor manufacturer’s stock worth $764,000 after purchasing an additional 120 shares during the period. Kamunting Street Capital Management L.P. acquired a new stake in shares of Advanced Micro Devices in the first quarter valued at approximately $5,415,000. Finally, Kraft Davis & Associates LLC bought a new stake in shares of Advanced Micro Devices in the first quarter valued at approximately $802,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 4.4 %

Shares of AMD stock opened at $144.48 on Thursday. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year 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 stock has a market cap of $233.52 billion, a price-to-earnings ratio of 212.47, a PEG ratio of 1.60 and a beta of 1.68. The stock has a 50-day moving average of $161.64 and a 200-day moving average of $168.10.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 6.00%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.6 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Friday, June 14th. The shares were 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 directly owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction dated 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI dropped their price objective 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. Susquehanna reissued a “positive” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday. TD Cowen upped their price target on shares of Advanced Micro Devices from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Citigroup lifted their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Truist Financial cut their target price on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven 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 target price of $193.45.

Advanced Micro Devices 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.