Ellsworth Advisors LLC Has $6.55 Million Stake in Advanced Micro Devices, Inc. $AMD

Ellsworth Advisors LLC reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,458 shares of the semiconductor manufacturer’s stock after selling 2,461 shares during the quarter. Advanced Micro Devices makes up about 1.4% of Ellsworth Advisors LLC’s portfolio, making the stock its 16th largest position. Ellsworth Advisors LLC’s holdings in Advanced Micro Devices were worth $6,546,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMD. Brighton Jones LLC grew its holdings in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after acquiring an additional 29,438 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after purchasing an additional 234 shares in the last quarter. Gabelli Funds LLC grew its stake in Advanced Micro Devices by 1.6% during the first quarter. Gabelli Funds LLC now owns 42,150 shares of the semiconductor manufacturer’s stock worth $4,330,000 after purchasing an additional 650 shares during the period. Gamco Investors INC. ET AL increased its holdings in Advanced Micro Devices by 114.7% in the first quarter. Gamco Investors INC. ET AL now owns 4,077 shares of the semiconductor manufacturer’s stock worth $419,000 after purchasing an additional 2,178 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Advanced Micro Devices in the first quarter valued at approximately $2,062,000. Institutional investors own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMD. Truist Financial reduced their price objective on shares of Advanced Micro Devices from $279.00 to $277.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Robert W. Baird set a $300.00 price target on shares of Advanced Micro Devices in a report on Wednesday, November 5th. Mizuho lifted their price target on shares of Advanced Micro Devices from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Raymond James Financial initiated coverage on shares of Advanced Micro Devices in a research report on Thursday, November 20th. They set an “outperform” rating and a $377.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $235.00 target price on Advanced Micro Devices and gave the company a “hold” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.06.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $214.99 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.68 and a current ratio of 2.31. The stock has a 50 day moving average price of $228.40 and a two-hundred day moving average price of $185.71. The firm has a market capitalization of $350.01 billion, a P/E ratio of 106.43, a P/E/G ratio of 1.59 and a beta of 1.93. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $267.08.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $9.25 billion for the quarter, compared to analyst estimates of $8.76 billion. Advanced Micro Devices had a return on equity of 8.04% and a net margin of 10.32%.The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,108 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $240.12, for a total transaction of $4,107,972.96. Following the transaction, the executive vice president directly owned 1,714,505 shares of the company’s stock, valued at $411,686,940.60. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 19,450 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total transaction of $4,461,246.50. Following the completion of the sale, the executive vice president directly owned 300,348 shares of the company’s stock, valued at $68,890,820.76. The trade was a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 181,226 shares of company stock valued at $39,877,820 over the last quarter. 0.06% of the stock is owned by insiders.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.