Carnegie Investment Counsel Acquires 2,211 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Carnegie Investment Counsel increased its holdings in Advanced Micro Devices, Inc. (AMD) by 5.3%, acquiring an additional 2,211 shares, now totaling 43,829 shares valued at approximately $4.5 million.
• Numerous institutional investors have boosted their stakes in AMD recently, with total institutional ownership now at 71.34%.
• Advanced Micro Devices has declared a stock buyback plan worth $6 billion, indicating management's belief that the company's shares are undervalued.

Carnegie Investment Counsel increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 43,829 shares of the semiconductor manufacturer's stock after buying an additional 2,211 shares during the period. Carnegie Investment Counsel's holdings in Advanced Micro Devices were worth $4,503,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its position in shares of Advanced Micro Devices by 178.2% during 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 in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after acquiring an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of 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 worth $31,958,000 after acquiring an additional 29,825 shares in the last quarter. Congress Wealth Management LLC DE increased its position in shares of Advanced Micro Devices by 44.7% in the fourth quarter. Congress Wealth Management LLC DE now owns 19,624 shares of the semiconductor manufacturer's stock worth $2,370,000 after acquiring an additional 6,060 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its position in shares of Advanced Micro Devices by 30.2% in the fourth quarter. Ausdal Financial Partners Inc. now owns 7,893 shares of the semiconductor manufacturer's stock worth $953,000 after acquiring an additional 1,831 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Advanced Micro Devices from $130.00 to $175.00 in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Citigroup lifted their target price on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, Loop Capital reduced their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Eleven investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $154.68.

Advanced Micro Devices Price Performance

Shares of AMD traded up $6.82 during trading hours on Monday, reaching $173.29. 44,019,989 shares of the company's stock traded hands, compared to its average volume of 43,524,051. The stock has a market cap of $280.97 billion, a PE ratio of 127.42, a price-to-earnings-growth ratio of 2.20 and a beta of 2.05. 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 firm's 50 day simple moving average is $132.24 and its 200-day simple moving average is $114.41. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $174.70.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. Equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices 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.