Sovereign Financial Group Inc. Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sovereign Financial Group Inc. acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,421 shares of the semiconductor manufacturer’s stock, valued at approximately $357,000.

A number of other hedge funds also recently bought and sold shares of AMD. Simmons Bank increased its position in Advanced Micro Devices by 3.4% in the fourth quarter. Simmons Bank now owns 2,271 shares of the semiconductor manufacturer’s stock worth $335,000 after buying an additional 75 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Advanced Micro Devices by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,923,022 shares of the semiconductor manufacturer’s stock valued at $1,315,343,000 after purchasing an additional 229,286 shares in the last quarter. Northern Financial Advisors Inc purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth $233,000. N.E.W. Advisory Services LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $254,000. Finally, Peregrine Asset Advisers Inc. lifted its stake in shares of Advanced Micro Devices by 354.3% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 17,231 shares of the semiconductor manufacturer’s stock valued at $2,540,000 after buying an additional 13,438 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Advanced Micro Devices from $157.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Piper Sandler restated an “overweight” rating and issued a $175.00 price target (down from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Truist Financial lowered their target price on shares of Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Susquehanna reduced their price target on shares of Advanced Micro Devices from $200.00 to $185.00 and set a “positive” rating on the stock in a report on Monday, April 29th. Finally, Cantor Fitzgerald cut their price objective on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $183.94.

Advanced Micro Devices Trading Down 0.9 %

AMD stock traded down $1.35 during trading on Tuesday, hitting $154.43. The company had a trading volume of 37,302,953 shares, compared to its average volume of 71,253,945. Advanced Micro Devices, Inc. has a 52-week low of $89.17 and a 52-week high of $227.30. The company has a 50 day simple moving average of $174.53 and a 200-day simple moving average of $153.23. The firm has a market capitalization of $249.61 billion, a P/E ratio of 227.11, a PEG ratio of 2.33 and a beta of 1.66. 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 issued its 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 for the quarter, compared to analyst estimates 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 last year, the company posted $0.43 earnings per share. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at $794,069.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now owns 4,209 shares in the company, valued at $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $177.57, for a total transaction of $2,876,634.00. Following the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at approximately $276,050,677.14. The disclosure for this sale can be found here. Insiders have sold a total of 181,850 shares of company stock valued at $34,637,833 over the last ninety days. 0.65% of the stock is owned by company 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.