Commonwealth Equity Services LLC Increases Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Commonwealth Equity Services LLC increased its holdings in Advanced Micro Devices by 8.6%, acquiring an additional 57,957 shares during the first quarter, bringing its total to 731,966 shares worth approximately $75.2 million.
• Several hedge funds, including UBS AM and Northern Trust Corp, have significantly increased their positions in AMD, indicating strong institutional interest in the semiconductor manufacturer.
• AMD recently declared a $6 billion share repurchase program, which signals the company's confidence in its stock valuation and is a common strategy to enhance shareholder value.

Commonwealth Equity Services LLC raised its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 731,966 shares of the semiconductor manufacturer's stock after purchasing an additional 57,957 shares during the quarter. Commonwealth Equity Services LLC's holdings in Advanced Micro Devices were worth $75,202,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Main Street Financial Solutions LLC raised its position in Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after buying an additional 98 shares during the last quarter. Peterson Wealth Services boosted its stake in Advanced Micro Devices by 2.9% in the first quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock worth $375,000 after buying an additional 103 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in Advanced Micro Devices by 5.6% in the first quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock worth $203,000 after buying an additional 104 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in Advanced Micro Devices by 1.5% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after buying an additional 115 shares in the last quarter. Finally, Alaethes Wealth LLC lifted its position in Advanced Micro Devices by 0.7% in the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after purchasing an additional 115 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Down 7.7%

NASDAQ:AMD traded down $13.34 during mid-day trading on Wednesday, reaching $160.97. The company's stock had a trading volume of 64,437,547 shares, compared to its average volume of 45,152,434. The firm has a market capitalization of $261.00 billion, a PE ratio of 118.36, a price-to-earnings-growth ratio of 2.34 and a beta of 1.94. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $141.11 and a 200-day moving average of $117.23. 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 posted its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.41 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The firm's revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has initiated 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on AMD. Dbs Bank cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Evercore ISI upped their target price on Advanced Micro Devices from $144.00 to $188.00 and gave the company an "outperform" rating in a research report on Wednesday. The Goldman Sachs Group raised Advanced Micro Devices to a "hold" rating and set a $140.00 price target for the company in a report on Thursday, July 10th. Roth Capital set a $150.00 price target on Advanced Micro Devices and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Raymond James Financial raised their price target on Advanced Micro Devices from $120.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $176.10.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value 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. The trade was 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.

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.