FourThought Financial Partners LLC Grows Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• FourThought Financial Partners LLC increased its holdings in Advanced Micro Devices (AMD) by 8.5%, now owning 22,591 shares valued at $2.32 million.
• Advanced Micro Devices announced a $6 billion share repurchase program, indicating company leadership's belief that the stock is undervalued.
• AMD's recent earnings report showed earnings per share of $0.96, exceeding estimates, and revenue growth of 35.9% year-over-year, totaling $7.44 billion.

FourThought Financial Partners LLC raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,591 shares of the semiconductor manufacturer's stock after acquiring an additional 1,770 shares during the quarter. FourThought Financial Partners LLC's holdings in Advanced Micro Devices were worth $2,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. Geode Capital Management LLC raised its position in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after purchasing an additional 835,413 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Advanced Micro Devices by 9.9% in 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 purchasing an additional 1,929,225 shares during the period. Northern Trust Corp raised its position in shares of Advanced Micro Devices by 20.1% in 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 purchasing an additional 2,874,012 shares during the period. Invesco Ltd. increased its holdings in Advanced Micro Devices by 7.2% during the 4th quarter. Invesco Ltd. now owns 11,368,317 shares of the semiconductor manufacturer's stock worth $1,373,179,000 after acquiring an additional 765,447 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Advanced Micro Devices by 0.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 8,614,342 shares of the semiconductor manufacturer's stock worth $885,037,000 after acquiring an additional 73,657 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $4.16 during trading on Tuesday, reaching $177.82. 71,771,822 shares of the company traded hands, compared to its average volume of 43,874,691. The firm has a 50 day simple moving average of $133.42 and a 200-day simple moving average of $114.81. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $288.32 billion, a PE ratio of 130.71, a P/E/G ratio of 2.20 and a beta of 2.05. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $182.31.

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 (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the transaction, the executive vice president 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMD. Morgan Stanley decreased their target price on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Wedbush reaffirmed an "outperform" rating and set a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Jefferies Financial Group upped their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a report on Wednesday, July 16th. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group raised shares of Advanced Micro Devices to a "hold" rating and set a $140.00 target price on the stock in a report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $157.42.

Advanced Micro Devices Company 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.