Bulltick Wealth Management LLC Acquires New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Bulltick Wealth Management LLC invested approximately $387,000 in Advanced Micro Devices (AMD) by purchasing 3,766 shares during the first quarter, indicating institutional interest in the semiconductor manufacturer.
• AMD's quarterly earnings report revealed earnings per share of $0.48, falling short of analysts' expectations of $0.54, although revenue increased by 31.7% year-over-year.
• Advanced Micro Devices initiated a $6.00 billion share repurchase plan, signaling that the Board believes the company's shares are undervalued.

Bulltick Wealth Management LLC acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,766 shares of the semiconductor manufacturer's stock, valued at approximately $387,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after acquiring an additional 29,438 shares during the period. Revolve Wealth Partners LLC increased its holdings in Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after buying an additional 234 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after buying an additional 29,825 shares during the period. Advisors Capital Management LLC increased its holdings in Advanced Micro Devices by 1.0% during the fourth quarter. Advisors Capital Management LLC now owns 50,596 shares of the semiconductor manufacturer's stock valued at $6,112,000 after buying an additional 488 shares during the period. Finally, Synovus Financial Corp increased its holdings in Advanced Micro Devices by 24.7% during the fourth quarter. Synovus Financial Corp now owns 42,099 shares of the semiconductor manufacturer's stock valued at $5,085,000 after buying an additional 8,330 shares during the period. Institutional investors own 71.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. DZ Bank raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating and set a $165.00 price objective on the stock in a report on Thursday, August 7th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft set a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their price target on shares of Advanced Micro Devices from $100.00 to $160.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $180.12.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded down $3.94 during trading hours on Friday, reaching $177.01. The stock had a trading volume of 32,036,944 shares, compared to its average volume of 46,784,234. The stock's 50 day moving average is $149.48 and its 200 day moving average is $119.82. The firm has a market capitalization of $287.26 billion, a PE ratio of 101.79, a PEG ratio of 2.18 and a beta of 1.94. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $186.65. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The company's revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. Equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has approved a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Paul Darren Grasby sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the sale, the executive vice president owned 125,505 shares of the company's stock, valued at $21,738,721.05. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

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.