Sphera Management Technology Funds Ltd Purchases New Shares in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sphera Management Technology Funds Ltd acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,570 shares of the semiconductor manufacturer’s stock, valued at approximately $1,881,000. Advanced Micro Devices makes up approximately 1.1% of Sphera Management Technology Funds Ltd’s investment portfolio, making the stock its 22nd biggest position.

A number of other institutional investors have also recently bought and sold shares of AMD. Hennion & Walsh Asset Management Inc. raised its position in shares of Advanced Micro Devices by 23.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,335 shares of the semiconductor manufacturer’s stock valued at $1,248,000 after buying an additional 1,942 shares in the last quarter. Procyon Advisors LLC raised its position in Advanced Micro Devices by 17.5% during the fourth quarter. Procyon Advisors LLC now owns 4,437 shares of the semiconductor manufacturer’s stock valued at $536,000 after purchasing an additional 660 shares in the last quarter. Merit Financial Group LLC lifted its stake in Advanced Micro Devices by 27.0% during the fourth quarter. Merit Financial Group LLC now owns 31,228 shares of the semiconductor manufacturer’s stock worth $3,772,000 after purchasing an additional 6,637 shares during the last quarter. Sax Wealth Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $514,000. Finally, Arkadios Wealth Advisors increased its stake in shares of Advanced Micro Devices by 27.6% in the 4th quarter. Arkadios Wealth Advisors now owns 17,621 shares of the semiconductor manufacturer’s stock valued at $2,128,000 after purchasing an additional 3,813 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research analyst reports. Evercore ISI lowered their price target on Advanced Micro Devices from $147.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and set a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Argus set a $160.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, February 6th. StockNews.com raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Barclays boosted their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $132.10.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $117.17 on Monday. The firm has a 50 day moving average of $98.94 and a 200-day moving average of $114.71. The company has a market cap of $189.98 billion, a price-to-earnings ratio of 118.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. 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 previous year, the firm posted $0.62 earnings per share. The business’s revenue was up 35.9% compared to the same quarter last year. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.