Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Purchased by Linscomb Wealth Inc.

Key Points

• Linscomb Wealth Inc. increased its holdings in Advanced Micro Devices, Inc. by 16.5% during Q1, acquiring an additional 2,558 shares, bringing its total to 18,054 shares valued at approximately $1.85 million.
• Advanced Micro Devices reported earnings of $0.48 EPS for the last quarter, missing estimates by $0.06, while its revenue reached $7.69 billion, exceeding expectations.
• AMD's Board of Directors has approved a share buyback plan to repurchase up to $6 billion in shares, indicating a belief that the stock may be undervalued.

Linscomb Wealth Inc. boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 16.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,054 shares of the semiconductor manufacturer's stock after acquiring an additional 2,558 shares during the period. Linscomb Wealth Inc.'s holdings in Advanced Micro Devices were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AMD. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. American Capital Advisory LLC boosted its holdings in shares of Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 130 shares during the last quarter. Kozak & Associates Inc. grew its position in shares of Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices in the fourth quarter valued at $30,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 0.2%

Shares of NASDAQ AMD opened at $172.76 on Monday. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $182.50. The firm has a market cap of $280.36 billion, a price-to-earnings ratio of 99.29, a PEG ratio of 2.07 and a beta of 1.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 2.49. The stock's 50-day simple moving average is $144.55 and its 200-day simple moving average is $118.17.

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

Advanced Micro Devices declared that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase 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 stock is undervalued.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMD. Susquehanna raised their price target on Advanced Micro Devices from $135.00 to $210.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the company a "buy" rating in a report on Friday, June 13th. Truist Financial upped their price target on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Citigroup lifted their price target on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Loop Capital lowered their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $178.56.

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.

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