AXS Investments LLC Purchases 3,085 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• AXS Investments LLC increased its stake in Advanced Micro Devices, Inc. by 18.7%, owning 19,623 shares valued at approximately $2.02 million.
• Advanced Micro Devices recently reported earnings of $0.48 EPS, which missed analysts' estimates, while revenue increased by 31.7% year-over-year to $7.69 billion.
• Analysts have set a consensus price target of $165.52 for AMD, with a mix of ratings from sell to strong buy across various research firms.

AXS Investments LLC boosted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,623 shares of the semiconductor manufacturer's stock after acquiring an additional 3,085 shares during the period. AXS Investments LLC's holdings in Advanced Micro Devices were worth $2,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMD. Toronto Dominion Bank grew its holdings in Advanced Micro Devices by 443.3% in 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. boosted its stake in Advanced Micro Devices by 56.4% during the 4th 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 during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after purchasing an additional 29,825 shares during the last quarter. Heritage Trust Co bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at $804,000. Finally, Valicenti Advisory Services Inc. boosted its position in shares of Advanced Micro Devices by 4.0% during the first quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock valued at $7,893,000 after buying an additional 2,944 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Down 6.4%

Shares of AMD traded down $11.19 during mid-day trading on Wednesday, reaching $163.12. 132,642,918 shares of the company's stock traded hands, compared to its average volume of 60,340,328. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The stock's 50-day moving average is $142.11 and its two-hundred day moving average is $117.55. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $182.50. The stock has a market cap of $264.48 billion, a P/E ratio of 93.75, a P/E/G ratio of 2.31 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.61%. The business 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 company earned $0.69 EPS. The business's revenue was up 31.7% compared to the same quarter last year. Research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMD shares. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. 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 report on Wednesday, May 7th. TD Cowen boosted their target price on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Erste Group Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.09.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

About Advanced Micro Devices

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.