Avantax Advisory Services Inc. Has $11.94 Million Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Avantax Advisory Services Inc. has increased its stake in Advanced Micro Devices (AMD) by 7.0%, adding 7,630 shares for a total of 116,256 shares valued at approximately $11.94 million.
• Advanced Micro Devices reported earnings of $0.96 EPS for the last quarter, exceeding analysts' expectations of $0.93, alongside a revenue of $7.44 billion, up 35.9% year-over-year.
• The company has announced a $6.00 billion share buyback program, indicating that its Board of Directors believes the stock is undervalued.

Avantax Advisory Services Inc. increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,256 shares of the semiconductor manufacturer's stock after acquiring an additional 7,630 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Advanced Micro Devices were worth $11,944,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Main Street Financial Solutions LLC lifted its position in shares of Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after purchasing an additional 98 shares during the period. Peterson Wealth Services lifted its position in shares of Advanced Micro Devices by 2.9% in the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock worth $375,000 after purchasing an additional 103 shares during the period. Lifeworks Advisors LLC lifted its position in shares of Advanced Micro Devices by 5.6% in the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock worth $203,000 after purchasing an additional 104 shares during the period. Jaffetilchin Investment Partners LLC lifted its position in shares of 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 purchasing an additional 115 shares during the period. Finally, Alaethes Wealth LLC lifted its position in shares of 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 purchasing an additional 115 shares during the period. 71.34% of the stock is owned by institutional investors.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business's 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. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMD shares. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Robert W. Baird dropped their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Melius Research upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and boosted their target price for the company from $110.00 to $175.00 in a research report on Monday, June 23rd. Melius upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a research report on Monday, June 23rd. Finally, Loop Capital dropped 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 report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $157.42.

Advanced Micro Devices Trading Up 2.5%

Advanced Micro Devices stock traded up $4.32 during midday trading on Tuesday, reaching $177.98. The stock had a trading volume of 60,445,682 shares, compared to its average volume of 43,788,250. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $182.31. The stock has a market capitalization of $288.57 billion, a PE ratio of 131.06, a price-to-earnings-growth ratio of 2.20 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The stock's 50-day simple moving average is $133.42 and its 200 day simple moving average is $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 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 analysts' expectations of $7.10 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. Analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has authorized a share 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs 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.