Dearborn Partners LLC Buys New Shares in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Dearborn Partners LLC invested approximately $499,000 to acquire 4,853 shares of Advanced Micro Devices, Inc. (AMD) in the first quarter, indicating continued institutional interest in the semiconductor company.
• Advanced Micro Devices' EVP, Mark D. Papermaster, sold 17,998 shares of the company's stock for roughly $2.79 million, resulting in a decreased ownership stake.
• Analysts have mixed ratings on AMD, with 23 buy ratings, 11 hold ratings, and a consensus price target of $162.94, reflecting a generally optimistic outlook despite varying individual assessments.

Dearborn Partners LLC purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,853 shares of the semiconductor manufacturer's stock, valued at approximately $499,000.

Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in 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 valued at $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Advanced Micro Devices by 2,265.5% in 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 buying an additional 2,889,739 shares during the period. Northern Trust Corp increased its stake 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 buying an additional 2,874,012 shares in the last quarter. GAMMA Investing LLC raised its holdings in Advanced Micro Devices by 12,097.8% during the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after acquiring an additional 1,992,508 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock valued at $2,585,079,000 after acquiring an additional 1,929,225 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMD. Roth Capital set a $150.00 target price on Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday, June 13th. Barclays lifted their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Evercore ISI set a $144.00 target price on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a research report on Friday, June 13th. The Goldman Sachs Group raised shares of Advanced Micro Devices to a "hold" rating and set a $140.00 target price for the company in a research note on Thursday, July 10th. Finally, Robert W. Baird decreased their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.94.

Advanced Micro Devices Trading Down 3.2%

NASDAQ:AMD traded down $5.56 during midday trading on Friday, hitting $170.75. The stock had a trading volume of 19,023,805 shares, compared to its average volume of 44,284,082. The stock has a 50-day moving average of $137.35 and a 200 day moving average of $116.10. The company has a market capitalization of $276.86 billion, a price-to-earnings ratio of 125.27, a PEG ratio of 2.37 and a beta of 2.05. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $182.50. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

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 analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for 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 business's revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, sell-side 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 buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign 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 business's stock in a transaction 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company's stock.

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.