Cypress Capital Group Purchases New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cypress Capital Group bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,380 shares of the semiconductor manufacturer’s stock, valued at approximately $1,703,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in shares of Advanced Micro Devices by 13.9% during the 1st quarter. Bessemer Group Inc. now owns 24,004 shares of the semiconductor manufacturer’s stock worth $4,332,000 after acquiring an additional 2,931 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Advanced Micro Devices by 81.9% in the 1st quarter. EntryPoint Capital LLC now owns 342 shares of the semiconductor manufacturer’s stock worth $62,000 after purchasing an additional 154 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Advanced Micro Devices by 9.0% during the 1st quarter. EP Wealth Advisors LLC now owns 45,866 shares of the semiconductor manufacturer’s stock worth $8,278,000 after buying an additional 3,783 shares during the last quarter. JT Stratford LLC increased its position in Advanced Micro Devices by 43.7% during the 1st quarter. JT Stratford LLC now owns 4,995 shares of the semiconductor manufacturer’s stock valued at $902,000 after buying an additional 1,520 shares in the last quarter. Finally, K2 Principal Fund L.P. purchased a new position in Advanced Micro Devices during the 1st quarter worth approximately $298,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Down 1.3 %

NASDAQ AMD opened at $137.60 on Thursday. The company has a market capitalization of $223.30 billion, a P/E ratio of 123.96, a PEG ratio of 1.87 and a beta of 1.71. Advanced Micro Devices, Inc. has a 12 month low of $116.37 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company’s 50 day simple moving average is $154.22 and its 200 day simple moving average is $154.82.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company posted $0.53 EPS. The company’s revenue was up 17.6% compared to the same quarter last year. Equities research analysts expect that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Barclays decreased their price objective on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Evercore ISI upped their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen reduced their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

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.