Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Metis Global Partners LLC

Key Points

• Metis Global Partners LLC increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.9%, owning 112,733 shares valued at approximately $11.58 million.
• Many institutional investors have significantly boosted their positions in AMD, with Toronto Dominion Bank notably increasing its holdings by 443.3% last quarter.
• Advanced Micro Devices reported better-than-expected earnings per share of $0.96 for the last quarter, surpassing analyst expectations and showing a 35.9% year-over-year revenue growth.

Metis Global Partners LLC increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,733 shares of the semiconductor manufacturer's stock after acquiring an additional 11,062 shares during the period. Metis Global Partners LLC's holdings in Advanced Micro Devices were worth $11,582,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Toronto Dominion Bank lifted its holdings in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. raised its holdings in Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after buying an additional 1,271 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after buying an additional 29,825 shares during the period. Heritage Trust Co acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth about $804,000. Finally, Centric Wealth Management increased its position in shares of Advanced Micro Devices by 20.6% in the fourth quarter. Centric Wealth Management now owns 14,567 shares of the semiconductor manufacturer's stock worth $1,760,000 after acquiring an additional 2,487 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated 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 directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMD. The Goldman Sachs Group raised shares of Advanced Micro Devices to a "hold" rating and set a $140.00 price objective for the company in a research note on Thursday, July 10th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Mizuho upped their price target on Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Erste Group Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Hsbc Global Res upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.68.

Advanced Micro Devices Price Performance

AMD stock opened at $166.47 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The business has a 50-day simple moving average of $132.24 and a two-hundred day simple moving average of $114.46. The company has a market capitalization of $269.91 billion, a P/E ratio of 122.40, a price-to-earnings-growth 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 $174.05.

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 for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its board has approved a stock buyback program 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 programs are often an indication that the company's leadership believes its shares are undervalued.

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.

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