Brookwood Investment Group LLC Invests $597,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Brookwood Investment Group LLC has made a significant investment of $597,000 in Advanced Micro Devices, purchasing 5,811 shares during the first quarter.
• Several institutional investors have substantially increased their stakes in Advanced Micro Devices, with 71.34% of the stock currently owned by hedge funds and other institutions.
• The company announced a $6 billion share buyback plan, indicating that its board believes the stock is undervalued.

Brookwood Investment Group LLC bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,811 shares of the semiconductor manufacturer's stock, valued at approximately $597,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lifeworks Advisors LLC lifted its stake in shares of Advanced Micro Devices by 5.6% in the first quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock valued at $203,000 after buying an additional 104 shares in the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of Advanced Micro Devices by 49.2% in the first quarter. Journey Strategic Wealth LLC now owns 13,462 shares of the semiconductor manufacturer's stock valued at $1,383,000 after buying an additional 4,441 shares in the last quarter. Kovack Advisors Inc. lifted its stake in shares of Advanced Micro Devices by 20.5% in the first quarter. Kovack Advisors Inc. now owns 25,829 shares of the semiconductor manufacturer's stock valued at $2,654,000 after buying an additional 4,386 shares in the last quarter. SFE Investment Counsel lifted its stake in shares of Advanced Micro Devices by 32.4% in the first quarter. SFE Investment Counsel now owns 29,456 shares of the semiconductor manufacturer's stock valued at $3,026,000 after buying an additional 7,203 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. lifted its stake in shares of Advanced Micro Devices by 144.1% in the first quarter. Argonautica Private Wealth Management Inc. now owns 39,223 shares of the semiconductor manufacturer's stock valued at $4,030,000 after buying an additional 23,157 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Loop Capital lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $120.00 target price (down previously from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Eleven 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.68.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded up $6.86 during mid-day trading on Monday, hitting $173.33. 44,019,989 shares of the company traded hands, compared to its average volume of 43,524,051. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $174.70. The stock has a market cap of $281.04 billion, a price-to-earnings ratio of 127.42, 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 has a fifty day moving average price of $132.24 and a 200-day moving average price of $114.41.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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 business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the business posted $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities analysts predict 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 authorized a share buyback program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by 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.