Ridgecrest Wealth Partners LLC Invests $335,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Ridgecrest Wealth Partners LLC purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,858 shares of the semiconductor manufacturer’s stock, valued at approximately $335,000.

Several other large investors have also modified their holdings of AMD. Grimes & Company Inc. grew its position in shares of Advanced Micro Devices by 0.3% in the 1st quarter. Grimes & Company Inc. now owns 137,217 shares of the semiconductor manufacturer’s stock worth $24,766,000 after acquiring an additional 453 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Advanced Micro Devices during the first quarter worth $264,000. MCF Advisors LLC boosted its holdings in Advanced Micro Devices by 6.5% in the first quarter. MCF Advisors LLC now owns 1,764 shares of the semiconductor manufacturer’s stock worth $318,000 after purchasing an additional 107 shares during the period. Trifecta Capital Advisors LLC increased its stake in Advanced Micro Devices by 13.9% during the first quarter. Trifecta Capital Advisors LLC now owns 20,817 shares of the semiconductor manufacturer’s stock valued at $3,757,000 after purchasing an additional 2,540 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Advanced Micro Devices during the first quarter worth $404,000. Institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMD. HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $225.00 in a report on Tuesday, April 16th. Jefferies Financial Group began coverage on Advanced Micro Devices in a research report on Monday, May 13th. They set a “buy” rating and a $190.00 price target on the stock. Morgan Stanley lowered Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and set a $176.00 price objective for the company. in a research report on Monday, June 10th. Cantor Fitzgerald dropped their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Mizuho reduced their price target on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.83.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $162.21 on Friday. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30. The business’s fifty day moving average is $159.12 and its two-hundred day moving average is $165.05. The stock has a market capitalization of $262.18 billion, a P/E ratio of 238.54, a P/E/G ratio of 1.87 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current fiscal 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.