Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Purchased by US Bancorp DE

Key Points

• US Bancorp DE increased its stake in Advanced Micro Devices (AMD) by 1.4%, owning approximately 1,146,145 shares valued at around $117.76 million, as of the end of the first quarter.
• Advanced Micro Devices has received several analyst upgrades, with HSBC raising it to a "strong-buy" rating and Wells Fargo increasing its price target significantly from $120 to $185.
• The company authorized a $6 billion share repurchase program, indicating that its leadership believes the stock may be undervalued.

US Bancorp DE boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,146,145 shares of the semiconductor manufacturer's stock after acquiring an additional 15,768 shares during the period. US Bancorp DE owned 0.07% of Advanced Micro Devices worth $117,755,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in 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 buying an additional 29,438 shares during the period. Revolve Wealth Partners LLC raised its holdings in Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after purchasing an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Advanced Micro Devices by 12.7% in the 4th 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. Bryce Point Capital LLC purchased a new stake in Advanced Micro Devices during the 4th quarter valued at about $507,000. Finally, OneAscent Financial Services LLC boosted its stake in Advanced Micro Devices by 112.8% during the 4th quarter. OneAscent Financial Services LLC now owns 5,150 shares of the semiconductor manufacturer's stock valued at $622,000 after purchasing an additional 2,730 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Down 2.6%

AMD traded down $4.61 on Friday, hitting $171.70. The company had a trading volume of 74,927,695 shares, compared to its average volume of 53,158,520. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $182.50. The stock has a market capitalization of $278.39 billion, a price-to-earnings ratio of 126.25, a P/E/G ratio of 2.27 and a beta of 1.94. 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 stock has a fifty day moving average price of $138.58 and a 200-day moving average price of $116.48.

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

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

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company'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 owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and set a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Melius Research upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $110.00 to $175.00 in a research note on Monday, June 23rd. Benchmark reaffirmed a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. DZ Bank downgraded shares of Advanced Micro Devices from a "buy" rating to a "sell" rating and set a $150.00 target price for the company. in a report on Wednesday. Finally, Sanford C. Bernstein upped their target price on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.94.

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.