Sovereign Financial Group Inc. Purchases Shares of 2,421 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sovereign Financial Group Inc. acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,421 shares of the semiconductor manufacturer’s stock, valued at approximately $357,000.

Several other hedge funds also recently modified their holdings of the company. Peoples Bank KS bought a new position in Advanced Micro Devices in the third quarter valued at approximately $26,000. Spartan Planning & Wealth Management bought a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at about $27,000. Bare Financial Services Inc acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $29,000. MeadowBrook Investment Advisors LLC bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $29,000. Finally, Gables Capital Management Inc. acquired a new position in Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 0.9 %

Shares of NASDAQ:AMD traded down $1.35 during trading on Tuesday, reaching $154.43. The stock had a trading volume of 37,302,953 shares, compared to its average volume of 71,253,945. The stock has a market cap of $249.61 billion, a price-to-earnings ratio of 227.11, a P/E/G ratio of 2.33 and a beta of 1.66. 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, Inc. has a 52 week low of $89.17 and a 52 week high of $227.30. The firm’s fifty day moving average is $174.53 and its 200 day moving average is $153.23.

Advanced Micro Devices (NASDAQ:AMD) last released 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. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. UBS Group cut their price objective on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Citigroup dropped their price target on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Bank of America upped their price objective on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $183.94.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $177.57, for a total value of $2,876,634.00. Following the completion of the sale, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $276,050,677.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $177.57, for a total value of $2,876,634.00. Following the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at $276,050,677.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at $794,069.94. The disclosure for this sale can be found here. Insiders sold a total of 181,850 shares of company stock worth $34,637,833 in the last three months. Company insiders own 0.65% of the company’s stock.

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.