Allium Financial Advisors LLC Acquires New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Allium Financial Advisors LLC has acquired a new stake in Advanced Micro Devices (AMD) worth approximately $211,000, purchasing 2,058 shares in the first quarter of the year.
• AMD's recent quarterly earnings report showed EPS of $0.96, exceeding the consensus estimate by $0.03, with revenue of $7.44 billion, up 35.9% year-over-year.
• The company announced a $6 billion share buyback plan, indicating a belief that its shares are undervalued amidst strong institutional ownership, with 71.34% of the stock held by hedge funds and institutional investors.

Allium Financial Advisors LLC purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,058 shares of the semiconductor manufacturer's stock, valued at approximately $211,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FourThought Financial Partners LLC grew its position in Advanced Micro Devices by 8.5% during the 1st quarter. FourThought Financial Partners LLC now owns 22,591 shares of the semiconductor manufacturer's stock worth $2,321,000 after purchasing an additional 1,770 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Advanced Micro Devices by 39.8% during the 1st quarter. HB Wealth Management LLC now owns 56,440 shares of the semiconductor manufacturer's stock valued at $5,799,000 after acquiring an additional 16,064 shares in the last quarter. Brandywine Oak Private Wealth LLC grew its holdings in shares of Advanced Micro Devices by 3.5% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 4,479 shares of the semiconductor manufacturer's stock valued at $460,000 after acquiring an additional 152 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Advanced Micro Devices by 37.7% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,258,249 shares of the semiconductor manufacturer's stock valued at $129,260,000 after acquiring an additional 344,213 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of Advanced Micro Devices by 21.8% during the 1st quarter. Angeles Wealth Management LLC now owns 4,291 shares of the semiconductor manufacturer's stock valued at $441,000 after acquiring an additional 768 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction that occurred on 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 directly 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. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on AMD. Robert W. Baird lowered their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a "hold" rating and set a $140.00 price target on the stock in a report on Thursday, July 10th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Erste Group Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.42.

Advanced Micro Devices Price Performance

NASDAQ AMD traded up $4.16 on Tuesday, reaching $177.82. The company's stock had a trading volume of 71,771,822 shares, compared to its average volume of 43,874,691. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The firm has a market cap of $288.32 billion, a PE ratio of 130.71, a price-to-earnings-growth ratio of 2.20 and a beta of 2.05. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $182.31. The business has a 50-day moving average price of $133.42 and a 200 day moving average price of $114.81.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping 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 analysts' expectations of $7.10 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. The company's quarterly revenue was up 35.9% compared to the same quarter last year. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is 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.