Chicago Partners Investment Group LLC Sells 6,167 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Chicago Partners Investment Group LLC reduced its stake in Advanced Micro Devices, Inc. by 7.4%, holding $7,796,000 worth of shares as of the first quarter.
• Advanced Micro Devices reported a missed earnings per share (EPS) of $0.48 for the recent quarter, compared to analysts' expectations of $0.54, although its revenue increased by 31.7% year-over-year to $7.69 billion.
• The company announced a $6.00 billion stock buyback program, signifying confidence from the Board of Directors that its shares are undervalued.

Chicago Partners Investment Group LLC reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 7.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 77,685 shares of the semiconductor manufacturer's stock after selling 6,167 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Advanced Micro Devices were worth $7,796,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in Advanced Micro Devices by 169.7% in the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock worth $1,012,538,000 after buying an additional 6,200,850 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after buying an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after acquiring an additional 2,889,739 shares during the period. Northern Trust Corp increased its holdings in Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Advanced Micro Devices by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock valued at $15,654,222,000 after acquiring an additional 2,157,199 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Up 0.2%

Advanced Micro Devices stock traded up $0.36 during mid-day trading on Friday, hitting $172.76. The company's stock had a trading volume of 68,723,246 shares, compared to its average volume of 66,889,100. The business has a 50 day moving average price of $143.30 and a 200-day moving average price of $117.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $182.50. The stock has a market cap of $280.36 billion, a price-to-earnings ratio of 64.09, a price-to-earnings-growth ratio of 2.06 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current 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 outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,998 shares of the 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 sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMD. Robert W. Baird reduced their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Melius raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Monday, June 23rd. Mizuho raised their price target on Advanced Micro Devices from $152.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus price target of $178.56.

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.