Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co increased its stake in Advanced Micro Devices, Inc. by 10.7%, holding 20,712 shares valued at approximately $2.13 million following a purchase of 2,010 additional shares.
• AMD's stock has a current price of $172.76 and a market capitalization of $280.36 billion, with a 12-month high of $182.50 and a low of $76.48.
• The company announced a $6 billion share buyback plan, indicating that the board believes the stock is undervalued.

Fayez Sarofim & Co raised its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,712 shares of the semiconductor manufacturer's stock after purchasing an additional 2,010 shares during the quarter. Fayez Sarofim & Co's holdings in Advanced Micro Devices were worth $2,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 200 shares during the period. American Capital Advisory LLC lifted its holdings in shares of Advanced Micro Devices by 90.3% in the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 130 shares during the period. Kozak & Associates Inc. boosted its stake in shares of Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $30,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 0.2%

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

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business's revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has approved a share buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Advanced Micro Devices from $175.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. TD Cowen boosted their target price on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday. Roth Capital set a $150.00 price objective on shares of Advanced Micro Devices and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Melius upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Monday, June 23rd. Thirteen analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus target price of $178.56.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm'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 completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.