Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 27.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,827 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,639 shares during the period. Sagespring Wealth Partners LLC’s holdings in Advanced Micro Devices were worth $2,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMD. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $29,000. Kozak & Associates Inc. increased its position in Advanced Micro Devices by 67.6% during the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 8.8%

Shares of NASDAQ AMD opened at $126.39 on Tuesday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a market cap of $204.93 billion, a P/E ratio of 127.67, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $105.48 and a 200 day moving average price of $111.08.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the firm earned $0.62 EPS. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMD. Bank of America boosted their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. TD Cowen boosted their price target on Advanced Micro Devices from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Citigroup reissued a “neutral” rating and set a $120.00 price target (up previously from $100.00) on shares of Advanced Micro Devices in a research note on Monday, June 9th. Loop Capital decreased their price target on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Benchmark reissued a “buy” rating and set a $170.00 price target on shares of Advanced Micro Devices in a research note on Friday. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.61.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

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.