Charles Schwab Investment Management Inc. Has $1.08 Billion Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Advanced Micro Devices (AMD) by 4.6%, acquiring an additional 466,048 shares to own a total of 10,549,100 shares, valued at approximately $1.08 billion.
• AMD reported $0.48 earnings per share for the quarter, missing the consensus estimate by $0.06, though its revenue increased 31.7% year-over-year.
• Equities analysts set new price targets for AMD, with UBS Group raising theirs from $150 to $210, indicating growing optimism about the company's stock performance.

Charles Schwab Investment Management Inc. raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,549,100 shares of the semiconductor manufacturer's stock after buying an additional 466,048 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.65% of Advanced Micro Devices worth $1,083,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMD. Toronto Dominion Bank lifted its position in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. raised its position in 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 acquiring an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position 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 worth $31,958,000 after acquiring an additional 29,825 shares in the last quarter. Heritage Trust Co acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at $804,000. Finally, Valicenti Advisory Services Inc. increased its holdings in shares of Advanced Micro Devices by 4.0% in the first quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock valued at $7,893,000 after purchasing an additional 2,944 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Analyst Ratings Changes

AMD has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday. Melius Research upgraded shares of 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 note on Monday, June 23rd. Evercore ISI upped their price target on shares of Advanced Micro Devices from $144.00 to $188.00 and gave the company an "outperform" rating in a research note on Wednesday. Sanford C. Bernstein upped their price target on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Finally, Melius upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $178.56.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the 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 owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Up 0.2%

NASDAQ:AMD traded up $0.36 on Friday, reaching $172.76. 68,723,246 shares of the stock traded hands, compared to its average volume of 66,889,100. The firm has a market capitalization of $280.36 billion, a price-to-earnings ratio of 99.29, a price-to-earnings-growth ratio of 2.06 and a beta of 1.94. The company's 50 day moving average is $144.55 and its 200-day moving average is $118.25. The company has a current ratio of 2.49, a quick ratio of 1.97 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a stock 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 buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.