Nicolet Advisory Services LLC Acquires 1,513 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Nicolet Advisory Services LLC increased its holdings in Advanced Micro Devices by 24.0%, reaching a total of 7,817 shares valued at approximately $803,000.
• Analyst price targets for AMD have significantly increased, with Jefferies Financial Group setting a new target of $160.00 and Bank of America raising its target to $200.00.
• Advanced Micro Devices recently reported earnings of $0.96 per share, exceeding expectations and indicating a year-over-year revenue increase of 35.9%.

Nicolet Advisory Services LLC grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,817 shares of the semiconductor manufacturer's stock after acquiring an additional 1,513 shares during the period. Nicolet Advisory Services LLC's holdings in Advanced Micro Devices were worth $803,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank raised its position in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after buying an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Advanced Micro Devices by 2,265.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after buying an additional 2,889,739 shares in the last quarter. 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 buying an additional 2,874,012 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Advanced Micro Devices by 12,097.8% in the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after buying an additional 1,992,508 shares in the last quarter. Finally, 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 buying an additional 1,929,225 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company'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 owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents 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 accessible through this link. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Down 2.6%

AMD stock traded down $4.61 during midday trading on Friday, hitting $171.70. The stock had a trading volume of 74,927,695 shares, compared to its average volume of 53,158,520. The firm has a market cap of $278.40 billion, a P/E ratio of 126.25, a price-to-earnings-growth ratio of 2.27 and a beta of 1.94. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50. The business has a fifty day moving average price of $138.58 and a two-hundred day moving average price of $116.46.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating 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 analyst estimates of $7.10 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The business's quarterly revenue was up 35.9% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMD. Melius upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a research report on Monday, June 23rd. Barclays lifted their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Hsbc Global Res raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. UBS Group lifted their price objective on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.94.

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.