Advanced Micro Devices, Inc. (NASDAQ:AMD) Stake Increased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its holdings in Advanced Micro Devices, Inc. by 24.5% during the first quarter, bringing its total investment to $2.25 million in the semiconductor company.
• Several institutional investors also increased their positions, with Toronto Dominion Bank boosting its stake by a remarkable 443.3%, indicating strong interest in AMD's stock.
• Advanced Micro Devices has announced a $6 billion share repurchase program, suggesting that the company's leadership believes its shares are currently undervalued amidst strong performance in earnings and revenue growth.

Arkadios Wealth Advisors lifted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 24.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 21,937 shares of the semiconductor manufacturer's stock after acquiring an additional 4,316 shares during the quarter. Arkadios Wealth Advisors' holdings in Advanced Micro Devices were worth $2,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Advanced Micro Devices by 9.9% during the 4th 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 purchasing an additional 1,929,225 shares during the last quarter. Northern Trust Corp lifted 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 worth $2,072,215,000 after buying an additional 2,874,012 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Advanced Micro Devices by 7.2% in the 4th quarter. Invesco Ltd. now owns 11,368,317 shares of the semiconductor manufacturer's stock worth $1,373,179,000 after buying an additional 765,447 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Advanced Micro Devices by 0.9% during the first quarter. Assenagon Asset Management S.A. now owns 8,614,342 shares of the semiconductor manufacturer's stock worth $885,037,000 after buying an additional 73,657 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Advanced Micro Devices by 11.2% during the 4th quarter. Deutsche Bank AG now owns 7,953,627 shares of the semiconductor manufacturer's stock valued at $960,719,000 after acquiring an additional 799,876 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Benchmark reissued a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Hsbc Global Res upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Citigroup boosted their price objective on Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.94.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded down $4.61 during mid-day trading on Friday, hitting $171.70. 74,927,695 shares of the company were exchanged, compared to its average volume of 53,158,520. 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 firm has a market cap of $278.39 billion, a price-to-earnings ratio of 126.25, a price-to-earnings-growth ratio of 2.33 and a beta of 1.94. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50. The stock has a 50 day simple moving average of $138.58 and a 200-day simple moving average of $116.48.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the business earned $0.62 earnings per share. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has approved a share buyback 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 buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

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 completion of the transaction, the executive vice president owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.06% of the company's stock.

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.