Alerus Financial NA Raises Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Posted by Defense World Staff on Jun 13th, 2023

Alerus Financial NA lifted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating) by 276.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,651 shares of the semiconductor manufacturer’s stock after buying an additional 11,491 shares during the quarter. Alerus Financial NA’s holdings in Advanced Micro Devices were worth $1,014,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMD. Duncker Streett & Co. Inc. purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Western Pacific Wealth Management LP boosted its position in shares of Advanced Micro Devices by 41.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 545 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 161 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $37,000. Samalin Investment Counsel LLC boosted its position in shares of Advanced Micro Devices by 112.5% during the 1st quarter. Samalin Investment Counsel LLC now owns 340 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 180 shares during the last quarter. Finally, First Manhattan Co. lifted its position in Advanced Micro Devices by 151.0% in the third quarter. First Manhattan Co. now owns 615 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 370 shares during the last quarter. Institutional investors own 67.17% of the company’s stock.

Advanced Micro Devices Stock Up 3.4 %

Shares of NASDAQ AMD opened at $129.19 on Tuesday. The company has a 50 day simple moving average of $101.39 and a 200-day simple moving average of $86.05. The company has a market capitalization of $208.04 billion, a P/E ratio of 561.70, a P/E/G ratio of 9.45 and a beta of 1.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.38 and a quick ratio of 1.74. Advanced Micro Devices, Inc. has a 1 year low of $54.57 and a 1 year high of $130.79.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The semiconductor manufacturer reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.31 billion. Advanced Micro Devices had a net margin of 1.71% and a return on equity of 7.19%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.17 earnings per share for the current year.

Analyst Ratings Changes

AMD has been the subject of several research analyst reports. Susquehanna lifted their target price on Advanced Micro Devices from $115.00 to $120.00 in a research report on Wednesday, May 3rd. KeyCorp boosted their price objective on shares of Advanced Micro Devices from $110.00 to $150.00 in a research note on Monday. Citigroup upped their price target on Advanced Micro Devices from $76.00 to $85.00 in a research report on Wednesday, May 3rd. StockNews.com initiated coverage on Advanced Micro Devices in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Piper Sandler upped their price target on shares of Advanced Micro Devices from $110.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 30,000 shares of the stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $91.39, for a total transaction of $2,741,700.00. Following the completion of the transaction, the executive vice president now owns 1,516,945 shares of the company’s stock, valued at approximately $138,633,603.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mark D. Papermaster sold 30,000 shares of the stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $91.39, for a total transaction of $2,741,700.00. Following the sale, the executive vice president now owns 1,516,945 shares of the company’s stock, valued at $138,633,603.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Forrest Eugene Norrod sold 25,000 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $119.35, for a total transaction of $2,983,750.00. Following the completion of the transaction, the executive vice president now owns 251,816 shares of the company’s stock, valued at approximately $30,054,239.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,765 shares of company stock valued at $12,789,560. Company insiders own 0.73% of the company’s stock.

Advanced Micro Devices Profile

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Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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.