ASR Vermogensbeheer N.V. Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Advanced Micro Devices, purchasing 168,241 shares valued at approximately $17.3 million in the first quarter.
• Advanced Micro Devices reported a quarterly earnings miss of $0.48 per share, below analysts' expectations, despite revenue exceeding consensus with $7.69 billion.
• AMD's board has approved a $6 billion share buyback plan, indicating confidence in the company's stock value and willingness to repurchase up to 3.1% of its shares.

ASR Vermogensbeheer N.V. acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 168,241 shares of the semiconductor manufacturer's stock, valued at approximately $17,285,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Advanced Micro Devices by 1.4% in the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock valued at $15,654,222,000 after acquiring an additional 2,157,199 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Advanced Micro Devices by 9.9% during the fourth 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 period. Northern Trust Corp grew its holdings in Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Goldman Sachs Group Inc. grew its holdings in Advanced Micro Devices by 169.7% during the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock valued at $1,012,538,000 after purchasing an additional 6,200,850 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings 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 valued at $885,037,000 after purchasing an additional 73,657 shares during the period. 71.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. Sanford C. Bernstein increased their price objective on Advanced Micro Devices from $95.00 to $140.00 and gave the company a "market perform" rating in a report on Monday, July 21st. TD Cowen increased their price objective on Advanced Micro Devices from $165.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday. Wedbush increased their price objective on Advanced Micro Devices from $170.00 to $190.00 and gave the company an "outperform" rating in a report on Wednesday. Mizuho increased their price objective on Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Piper Sandler increased their target price on Advanced Micro Devices from $140.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, twenty-three have issued 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 an average target price of $178.56.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded up $9.28 during trading hours on Thursday, reaching $172.40. The company had a trading volume of 95,073,538 shares, compared to its average volume of 65,171,756. The company has a current ratio of 2.49, a quick ratio of 1.97 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $182.50. The firm has a market cap of $279.53 billion, a price-to-earnings ratio of 99.08, a PEG ratio of 2.15 and a beta of 1.94. The firm's 50 day moving average price is $143.30 and its 200-day moving average price is $117.90.

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

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.