Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Formidable Asset Management LLC

Formidable Asset Management LLC boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 58.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,496 shares of the semiconductor manufacturer's stock after purchasing an additional 6,420 shares during the quarter. Formidable Asset Management LLC's holdings in Advanced Micro Devices were worth $1,798,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after acquiring an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in 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. Bank Pictet & Cie Europe AG increased its stake in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after purchasing an additional 29,825 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Advanced Micro Devices by 36.9% in the fourth quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock worth $589,000 after buying an additional 1,315 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $7,089,000. 71.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices 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 in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AMD. HSBC upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target on the stock in a report on Thursday, July 10th. Cantor Fitzgerald reissued an "overweight" rating on shares of Advanced Micro Devices in a report on Monday, June 9th. Wells Fargo & Company increased their price target on Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday. Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Seaport Res Ptn upgraded Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $153.23.

Advanced Micro Devices Trading Down 2.1%

NASDAQ AMD traded down $3.42 on Friday, reaching $156.99. The stock had a trading volume of 48,717,572 shares, compared to its average volume of 41,807,326. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $174.05. The stock has a fifty day moving average price of $127.67 and a two-hundred day moving average price of $113.25. The firm has a market capitalization of $254.54 billion, a price-to-earnings ratio of 115.43, a P/E/G ratio of 2.08 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the firm earned $0.62 EPS. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has approved a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

About Advanced Micro Devices

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.