Caliber Wealth Management LLC KS Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Caliber Wealth Management LLC has acquired a new position in Advanced Micro Devices, purchasing 11,597 shares valued at approximately $1.19 million during the first quarter.
• Wall Street analysts have a positive outlook on AMD, with 24 analysts giving it a buy rating and a target price of $154.68, indicating strong confidence in its future performance.
• AMD has initiated a $6 billion share buyback program, signaling that its board believes the stock is currently undervalued and aims to enhance shareholder value.

Caliber Wealth Management LLC KS acquired a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,597 shares of the semiconductor manufacturer's stock, valued at approximately $1,191,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AMD. Toronto Dominion Bank boosted its position in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. lifted its position in shares of Advanced Micro Devices by 56.4% during the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after purchasing an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in 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 valued at $31,958,000 after purchasing an additional 29,825 shares during the last quarter. Heritage Trust Co purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $804,000. Finally, Centric Wealth Management lifted its holdings in shares of Advanced Micro Devices by 20.6% during the fourth quarter. Centric Wealth Management now owns 14,567 shares of the semiconductor manufacturer's stock worth $1,760,000 after purchasing an additional 2,487 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMD. Melius Research raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $110.00 to $175.00 in a research report on Monday, June 23rd. Susquehanna lowered their price objective on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Sanford C. Bernstein raised their target price on Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Bank of America upped their price objective on Advanced Micro Devices from $175.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Erste Group Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.42.

Advanced Micro Devices Trading Up 2.4%

Advanced Micro Devices stock traded up $4.23 during trading hours on Tuesday, reaching $177.89. 60,445,682 shares of the company's stock traded hands, compared to its average volume of 43,788,250. The firm has a market capitalization of $288.43 billion, a price-to-earnings ratio of 131.06, a PEG ratio of 2.20 and a beta of 2.05. The firm's 50 day moving average is $133.42 and its 200-day moving average is $114.81. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, 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 authorized a stock 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 shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

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 transaction of $2,790,229.94. Following the completion of the transaction, 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 document filed with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company's stock.

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.