Accuvest Global Advisors Invests $257,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Accuvest Global Advisors has acquired 2,500 shares of Advanced Micro Devices (NASDAQ:AMD), valued at approximately $257,000, indicating growing institutional interest in the semiconductor manufacturer.
• Despite missing earnings estimates, AMD reported a year-over-year revenue increase of 31.7%, with quarterly revenue reaching $7.69 billion.
• The company has authorized a $6.00 billion stock repurchase plan, signaling confidence in the company's value and management's belief that shares are currently undervalued.

Accuvest Global Advisors purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,500 shares of the semiconductor manufacturer's stock, valued at approximately $257,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Advanced Micro Devices by 1.4% during the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock valued at $15,654,222,000 after buying an additional 2,157,199 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock valued at $2,585,079,000 after buying an additional 1,929,225 shares during the period. Northern Trust Corp boosted its stake in Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after buying an additional 2,874,012 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Advanced Micro Devices by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,549,100 shares of the semiconductor manufacturer's stock valued at $1,083,815,000 after buying an additional 466,048 shares during the period. Finally, Deutsche Bank AG boosted its stake in Advanced Micro Devices by 27.9% during the first quarter. Deutsche Bank AG now owns 10,175,532 shares of the semiconductor manufacturer's stock valued at $1,045,434,000 after buying an additional 2,221,905 shares during the period. 71.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMD has been the topic of a number of research reports. Bank of America raised their price target on Advanced Micro Devices from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Stifel Nicolaus raised their price target on Advanced Micro Devices from $161.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday. Barclays raised their price target on Advanced Micro Devices from $130.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, TD Cowen raised their price target on Advanced Micro Devices from $165.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $178.56.

Advanced Micro Devices Stock Up 0.2%

Advanced Micro Devices stock traded up $0.36 during trading hours on Friday, hitting $172.76. 68,723,246 shares of the stock traded hands, compared to its average volume of 66,889,100. The firm's 50-day moving average price is $144.55 and its two-hundred day moving average price is $118.25. The company has a current ratio of 2.49, a quick ratio of 1.97 and a debt-to-equity ratio of 0.05. The company has a market cap of $280.36 billion, a PE ratio of 99.29, a PEG ratio of 2.06 and a beta of 1.94. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The business's revenue was up 31.7% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.