Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. increased its stake in Advanced Micro Devices (AMD) by 29.8% in Q1, holding 30,433 shares valued at approximately $3.13 million.
• A number of analysts have set new price targets for AMD, with Wells Fargo raising its target from $120 to $185 and UBS Group increasing theirs to $210.
• AMD reported a 35.9% year-over-year increase in revenue with $7.44 billion for the quarter, exceeding analyst expectations.

Moors & Cabot Inc. increased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 29.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,433 shares of the semiconductor manufacturer's stock after purchasing an additional 6,987 shares during the period. Moors & Cabot Inc.'s holdings in Advanced Micro Devices were worth $3,127,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Main Street Financial Solutions LLC raised its stake in Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 98 shares during the period. Peterson Wealth Services raised its stake in Advanced Micro Devices by 2.9% during the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock valued at $375,000 after purchasing an additional 103 shares during the period. Lifeworks Advisors LLC raised its stake in Advanced Micro Devices by 5.6% during the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock valued at $203,000 after purchasing an additional 104 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in Advanced Micro Devices by 1.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after acquiring an additional 115 shares during the last quarter. Finally, Alaethes Wealth LLC increased its stake in Advanced Micro Devices by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after acquiring an additional 115 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded down $4.61 during 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. 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 $278.40 billion, a price-to-earnings ratio of 126.25, a price-to-earnings-growth ratio of 2.27 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. The stock has a 50-day simple moving average of $138.58 and a two-hundred day simple moving average 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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period last year, the business posted $0.62 earnings per share. The company's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities research analysts expect 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 authorized a stock repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMD. Hsbc Global Res raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Dbs Bank downgraded Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a "buy" rating in a research note on Friday, June 13th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $162.94.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

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.