Banco Santander S.A. Buys 72,920 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Banco Santander S.A. has increased its stake in Advanced Micro Devices, Inc. by 70.6% by acquiring an additional 72,920 shares, bringing its total holdings to 176,177 shares valued at approximately $18.1 million.
• During the first quarter, various institutional investors also increased their positions in AMD, leading to 71.34% of the stock now being owned by institutional investors.
• AMD announced a $6.00 billion stock repurchase plan, signaling that the board believes the company's shares are undervalued.

Banco Santander S.A. raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 70.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,177 shares of the semiconductor manufacturer's stock after acquiring an additional 72,920 shares during the quarter. Banco Santander S.A.'s holdings in Advanced Micro Devices were worth $18,100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Privium Fund Management UK Ltd purchased a new position in shares of Advanced Micro Devices during the first quarter valued at about $4,190,000. PNC Financial Services Group Inc. grew its position in Advanced Micro Devices by 4.3% in the first quarter. PNC Financial Services Group Inc. now owns 330,842 shares of the semiconductor manufacturer's stock worth $33,991,000 after acquiring an additional 13,530 shares in the last quarter. Mirabaud & Cie SA grew its position in Advanced Micro Devices by 8.0% in the first quarter. Mirabaud & Cie SA now owns 5,415 shares of the semiconductor manufacturer's stock worth $556,000 after acquiring an additional 400 shares in the last quarter. SPC Financial Inc. boosted its position in shares of Advanced Micro Devices by 25.8% during the first quarter. SPC Financial Inc. now owns 4,524 shares of the semiconductor manufacturer's stock valued at $465,000 after buying an additional 929 shares during the period. Finally, Strategic Advocates LLC boosted its position in shares of Advanced Micro Devices by 175.9% during the first quarter. Strategic Advocates LLC now owns 5,154 shares of the semiconductor manufacturer's stock valued at $530,000 after buying an additional 3,286 shares during the period. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Price Performance

Shares of AMD opened at $171.70 on Friday. The firm has a market capitalization of $278.39 billion, a PE ratio of 126.25, a price-to-earnings-growth ratio of 2.33 and a beta of 1.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50. The company's fifty day moving average price is $138.58 and its 200-day moving average price is $116.48.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The business's quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has approved a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

AMD has been the subject of several recent analyst reports. Piper Sandler set a $270.00 target price on Advanced Micro Devices and gave the company an "overweight" rating in a research report on Thursday, July 10th. Benchmark restated a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Wedbush restated an "outperform" rating and set a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Susquehanna boosted their target price on Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a research report on Wednesday. Finally, Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $162.94.

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.

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