Howard Capital Management Inc. Has $6.51 Million Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Howard Capital Management Inc. has reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 9.1%, now owning 63,407 shares, valued at approximately $6.5 million.
• Analysts have varied target prices for AMD, with Raymond James lowering its target to $120, while Citigroup increased theirs to $165, reflecting mixed sentiments about the stock.
• AMD reported $0.96 earnings per share for the last quarter, exceeding estimates, and announced a stock buyback program of $6 billion to repurchase shares, indicating confidence in its valuation.

Howard Capital Management Inc. reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,407 shares of the semiconductor manufacturer's stock after selling 6,330 shares during the quarter. Howard Capital Management Inc.'s holdings in Advanced Micro Devices were worth $6,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after purchasing an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after purchasing an additional 29,825 shares during the last quarter. AIA Group Ltd grew its holdings in shares of Advanced Micro Devices by 320.6% during the fourth quarter. AIA Group Ltd now owns 22,726 shares of the semiconductor manufacturer's stock valued at $2,745,000 after purchasing an additional 17,323 shares during the last quarter. Finally, Summit Financial LLC grew its holdings in shares of Advanced Micro Devices by 11.1% during the fourth quarter. Summit Financial LLC now owns 35,860 shares of the semiconductor manufacturer's stock valued at $4,332,000 after purchasing an additional 3,593 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Up 1.2%

NASDAQ:AMD traded up $2.07 during trading hours on Wednesday, hitting $179.51. 63,549,276 shares of the stock traded hands, compared to its average volume of 49,722,936. The firm has a 50 day moving average price of $136.04 and a 200 day moving average price of $115.69. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.31. The firm has a market cap of $291.06 billion, a price-to-earnings ratio of 131.99, a PEG ratio of 2.35 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the business earned $0.62 EPS. The company's revenue was up 35.9% on a year-over-year basis. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

AMD has been the subject of several recent research reports. Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. KeyCorp downgraded Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a "buy" rating in a research report on Friday, June 13th. UBS Group boosted their price objective on Advanced Micro Devices from $150.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Jefferies Financial Group boosted their price objective on Advanced Micro Devices from $100.00 to $160.00 in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.