Altfest L J & Co. Inc. Buys Shares of 5,588 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Altfest L J & Co. Inc. acquired 5,588 shares of Advanced Micro Devices, Inc. (AMD), valued at approximately $574,000, highlighting ongoing institutional interest in the semiconductor manufacturer.
• Advanced Micro Devices reported a missed EPS estimate with earnings of $0.48, falling short of the expected $0.54, but its revenue of $7.69 billion surpassed analysts' forecasts.
• The company has initiated a $6 billion stock repurchase program, indicating confidence in its stock valuation despite recent fluctuations and a market cap of $280.36 billion.

Altfest L J & Co. Inc. purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,588 shares of the semiconductor manufacturer's stock, valued at approximately $574,000.

Several other large investors have also recently made changes to their positions in the stock. Toronto Dominion Bank increased its stake in Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Nicolet Bankshares Inc. grew its holdings in shares of Advanced Micro Devices by 56.4% in the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock valued at $426,000 after purchasing an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after buying an additional 29,825 shares during the period. Heritage Trust Co acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $804,000. Finally, Valicenti Advisory Services Inc. lifted its holdings in Advanced Micro Devices by 4.0% during the 1st quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock worth $7,893,000 after buying an additional 2,944 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

NASDAQ AMD traded up $0.36 on Friday, hitting $172.76. 68,723,246 shares of the company's stock were exchanged, compared to its average volume of 66,889,100. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50. The firm has a market cap of $280.36 billion, a price-to-earnings ratio of 99.29, a P/E/G ratio of 2.06 and a beta of 1.94. The firm's 50-day moving average price is $144.55 and its two-hundred day moving average price is $118.25.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. Advanced Micro Devices's revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, research 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 initiated a stock repurchase program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of recent research reports. Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a "buy" rating in a research report on Friday, June 13th. Evercore ISI increased their price target on Advanced Micro Devices from $144.00 to $188.00 and gave the company an "outperform" rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Advanced Micro Devices from $161.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday. Loop Capital cut their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Melius Research upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $110.00 to $175.00 in a research note on Monday, June 23rd. Thirteen research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $178.56.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

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.