Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Empirical Financial Services LLC increased its holdings in Advanced Micro Devices (AMD) by 19%, acquiring an additional 4,010 shares, bringing the total to 25,085 shares worth approximately $2.577 million.
• Analysts have set new price targets for AMD, with HSBC raising its rating to "buy" with a price target of $200, while Raymond James cut its target to $120.
• Insider activity includes the sale of 17,998 shares by EVP Mark D. Papermaster for approximately $2.79 million, indicating a 1.04% decrease in his position.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,085 shares of the semiconductor manufacturer's stock after acquiring an additional 4,010 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Advanced Micro Devices were worth $2,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMD. Toronto Dominion Bank lifted its position in shares of 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 worth $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. raised its position in shares of Advanced Micro Devices by 56.4% in the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after buying an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG raised 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 buying an additional 29,825 shares in the last quarter. Heritage Trust Co purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth $804,000. Finally, Valicenti Advisory Services Inc. raised its position 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 worth $7,893,000 after buying an additional 2,944 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value 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 $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 is available at this link. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Stock Performance

AMD traded up $5.76 during mid-day trading on Monday, reaching $177.46. 41,214,368 shares of the company traded hands, compared to its average volume of 44,680,770. The stock has a market capitalization of $287.73 billion, a P/E ratio of 130.41, a P/E/G ratio of 2.27 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 company's fifty day moving average price is $138.58 and its 200-day moving average price is $116.44. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $182.50.

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

Advanced Micro Devices announced that its board has approved a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein increased their price objective on Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. DZ Bank downgraded Advanced Micro Devices from a "buy" rating to a "sell" rating and set a $150.00 price objective on the stock. in a research report on Wednesday, July 30th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. Citigroup increased their price objective on Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, Raymond James Financial restated an "outperform" rating and set a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.94.

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.