Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Advanced Micro Devices, owning over 152 million shares, valued at approximately $15.65 billion as of the latest reporting period.
• Advanced Micro Devices missed earnings expectations with an EPS of $0.48 for the most recent quarter, below the anticipated $0.54, although revenue increased significantly by 31.7% year-over-year to $7.69 billion.
• The company's board authorized a stock buyback plan worth $6 billion, indicating a belief that the shares are currently undervalued.

Vanguard Group Inc. lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,367,351 shares of the semiconductor manufacturer's stock after acquiring an additional 2,157,199 shares during the period. Vanguard Group Inc. owned 9.43% of Advanced Micro Devices worth $15,654,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its position in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after purchasing an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after buying an additional 234 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in 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 valued at $31,958,000 after buying an additional 29,825 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Advanced Micro Devices by 15.3% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,894 shares of the semiconductor manufacturer's stock valued at $1,074,000 after acquiring an additional 1,181 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its holdings in Advanced Micro Devices by 2,744.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 768 shares of the semiconductor manufacturer's stock worth $93,000 after purchasing an additional 741 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Melius Research raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from $110.00 to $175.00 in a report on Monday, June 23rd. Wedbush boosted their price objective on Advanced Micro Devices from $170.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Mizuho boosted their price target on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $178.09.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's 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 sale, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Down 6.4%

Shares of NASDAQ AMD traded down $11.19 during trading on Wednesday, hitting $163.12. 132,642,918 shares of the company traded hands, compared to its average volume of 60,340,328. The company has a 50-day moving average price of $142.11 and a 200-day moving average price of $117.55. The firm has a market capitalization of $264.48 billion, a P/E ratio of 93.75, a P/E/G ratio of 2.31 and a beta of 1.94. The company has a quick ratio of 1.97, a current ratio of 2.80 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.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.61%. The company had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same period last year, the business earned $0.69 earnings per share. The company's revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has approved a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management 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.