Harbour Investments Inc. Has $2.59 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Harbour Investments Inc. reduced its stake in Advanced Micro Devices, Inc. by 23.1%, selling 7,579 shares and holding 25,162 shares worth approximately $2.585 million as of its latest SEC filing.
• Several institutional investors have increased their positions in Advanced Micro Devices, with Toronto Dominion Bank raising its holdings by 443.3% in the fourth quarter alone, acquiring over 4.4 million shares.
• Advanced Micro Devices recently initiated a $6.00 billion share repurchase program, reflecting management's belief that its shares are undervalued, and reported a strong 35.9% year-over-year revenue increase for its last quarter.

Harbour Investments Inc. decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 25,162 shares of the semiconductor manufacturer's stock after selling 7,579 shares during the period. Harbour Investments Inc.'s holdings in Advanced Micro Devices were worth $2,585,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMD. Main Street Financial Solutions LLC lifted its position in shares of 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 worth $314,000 after acquiring an additional 98 shares during the period. Peterson Wealth Services lifted its position in shares of Advanced Micro Devices by 2.9% in the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock worth $375,000 after acquiring an additional 103 shares during the period. Lifeworks Advisors LLC lifted its position in shares of Advanced Micro Devices by 5.6% in the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock worth $203,000 after acquiring an additional 104 shares during the period. Jaffetilchin Investment Partners LLC lifted its position in shares of Advanced Micro Devices by 1.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after acquiring an additional 115 shares during the period. Finally, Alaethes Wealth LLC raised its holdings in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMD. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Stifel Nicolaus reissued a "buy" rating and issued a $132.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Jefferies Financial Group lifted their target price on Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. TD Cowen lifted their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Benchmark reissued a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $162.94.

Insider Activity

In related 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Up 3.4%

Shares of NASDAQ:AMD traded up $5.76 during midday trading on Monday, reaching $177.46. The company had a trading volume of 41,214,368 shares, compared to its average volume of 44,680,770. The business's 50 day moving average price is $138.58 and its 200 day moving average price is $116.44. The stock has a market cap of $287.73 billion, a PE 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. 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 earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. Research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a share buyback plan 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 plans are usually a sign that the company's leadership believes its stock is undervalued.

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.