Brio Consultants LLC Buys Shares of 44,155 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Brio Consultants LLC purchased 44,155 shares of Advanced Micro Devices, Inc. for approximately $4.54 million, making it the firm's 14th largest position.
• Advanced Micro Devices reported a 35.9% increase in revenue year-over-year, with earnings per share of $0.96 for the latest quarter, beating expectations.
• The company has initiated a $6 billion stock repurchase plan, indicating that its board believes the stock is undervalued.

Brio Consultants LLC bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 44,155 shares of the semiconductor manufacturer's stock, valued at approximately $4,537,000. Advanced Micro Devices accounts for about 1.7% of Brio Consultants LLC's investment portfolio, making the stock its 14th largest position.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after buying an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Advanced Micro Devices by 12.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after buying an additional 29,825 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Advanced Micro Devices by 5.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 11,066 shares of the semiconductor manufacturer's stock worth $1,337,000 after buying an additional 575 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD opened at $173.66 on Tuesday. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $133.42 and a two-hundred day simple moving average of $114.81. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $174.70. The stock has a market cap of $281.57 billion, a price-to-earnings ratio of 127.69, a PEG ratio of 2.20 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the business posted $0.62 EPS. The business's revenue was up 35.9% compared to the same quarter last year. As a group, analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has initiated a stock 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business'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 completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMD. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 13th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. TD Cowen lifted their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $156.61.

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.

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