GABELLI & Co INVESTMENT ADVISERS INC. Grows Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 90.0% during the 4th quarter, Holdings Channel reports. The fund owned 3,800 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,800 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Advanced Micro Devices were worth $459,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $25,000. Global Wealth Strategies & Associates purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth approximately $29,000. Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling

In related news, EVP Philip Guido bought 4,645 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $107.56 per share, with a total value of $499,616.20. Following the completion of the acquisition, the executive vice president now owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMD. TD Cowen lowered their price objective on shares of Advanced Micro Devices from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an “overweight” rating on shares of Advanced Micro Devices in a research report on Wednesday, February 19th. Jefferies Financial Group downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $135.00 to $120.00 in a report on Thursday, March 27th. Wolfe Research cut Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 16th. Finally, KeyCorp lowered shares of Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target of $148.76.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $95.29 on Wednesday. The firm has a market cap of $154.02 billion, a PE ratio of 96.25, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The firm’s 50-day simple moving average is $102.25 and its 200-day simple moving average is $124.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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.