HB Wealth Management LLC Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• HB Wealth Management LLC increased its stake in Advanced Micro Devices (AMD) by 39.8% during the first quarter, with holdings now valued at $5.8 million.
• Advanced Micro Devices announced a $6 billion share buyback program, reflecting the board's belief that its shares are undervalued.
• Analysts have generally rated AMD positively, with an average rating of "Moderate Buy" and a price target of $154.68.

HB Wealth Management LLC boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 39.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,440 shares of the semiconductor manufacturer's stock after acquiring an additional 16,064 shares during the quarter. HB Wealth Management LLC's holdings in Advanced Micro Devices were worth $5,799,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMD. Main Street Financial Solutions LLC raised its stake in shares of Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after buying an additional 98 shares during the last quarter. Peterson Wealth Services increased its position in Advanced Micro Devices by 2.9% during the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock worth $375,000 after purchasing an additional 103 shares in the last quarter. Lifeworks Advisors LLC increased its position in Advanced Micro Devices by 5.6% during the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock worth $203,000 after purchasing an additional 104 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its position in Advanced Micro Devices by 1.5% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after purchasing an additional 115 shares in the last quarter. Finally, Alaethes Wealth LLC grew its holdings in Advanced Micro Devices by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMD. Robert W. Baird reduced their price target on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. HSBC raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target on the stock in a research report on Thursday, July 10th. Seaport Res Ptn raised Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Wedbush reissued an "outperform" rating and issued a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.94.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Trading Up 0.6%

Shares of NASDAQ AMD traded up $1.01 during midday trading on Wednesday, hitting $178.45. The stock had a trading volume of 33,191,021 shares, compared to its average volume of 44,071,938. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.31. The company's 50-day simple moving average is $134.69 and its 200 day simple moving average is $115.25. The firm has a market cap of $289.35 billion, a P/E ratio of 131.38, a price-to-earnings-growth ratio of 2.30 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The company's revenue was up 35.9% on a year-over-year basis. Research 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 stock repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Advanced Micro Devices Company 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.