Steele Capital Management Inc. Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Steele Capital Management Inc. purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,145 shares of the semiconductor manufacturer’s stock, valued at approximately $207,000.

Several other large investors have also modified their holdings of the business. Norges Bank acquired a new stake in Advanced Micro Devices during the fourth quarter worth approximately $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Advanced Micro Devices by 813.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock worth $685,089,000 after purchasing an additional 4,138,612 shares during the period. International Assets Investment Management LLC raised its stake in Advanced Micro Devices by 15,896.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,737,433 shares of the semiconductor manufacturer’s stock worth $550,935,000 after purchasing an additional 3,714,069 shares during the period. Capital World Investors raised its stake in Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after purchasing an additional 2,982,704 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Advanced Micro Devices by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after purchasing an additional 2,553,392 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $175.00 target price (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Susquehanna lifted their price target on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Mizuho dropped their price target on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group assumed coverage on shares of Advanced Micro Devices in a research note on Monday, May 13th. They set a “buy” rating and a $190.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.83.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $159.82 on Tuesday. Advanced Micro Devices, Inc. has a 52 week low of $93.11 and a 52 week high of $227.30. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The stock has a market cap of $258.32 billion, a price-to-earnings ratio of 231.90, a price-to-earnings-growth ratio of 1.87 and a beta of 1.69. The company has a 50-day moving average price of $159.12 and a two-hundred day moving average price of $165.24.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. Advanced Micro Devices’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts forecast that Advanced Micro Devices, Inc. will post 2.61 EPS for the current year.

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.