Hoxton Planning & Management LLC Purchases New Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Hoxton Planning & Management LLC has invested approximately $307,000 in Advanced Micro Devices, purchasing 2,989 shares of the stock during the first quarter.
• Advanced Micro Devices received several positive ratings from brokerages, with HSBC upgrading the stock to a "buy" rating and setting a target price of $200.00.
• The company reported better-than-expected earnings of $0.96 per share for the last quarter, exceeding analysts' estimates by $0.03 and showing a 35.9% revenue increase year-over-year.

Hoxton Planning & Management LLC purchased a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,989 shares of the semiconductor manufacturer's stock, valued at approximately $307,000.

Several other institutional investors have also bought and sold shares of AMD. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $28,000. Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 200 shares during the period. American Capital Advisory LLC raised its holdings in Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 130 shares during the period. Finally, Hurley Capital LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

AMD stock traded down $4.61 during midday trading on Friday, hitting $171.70. The stock had a trading volume of 74,927,695 shares, compared to its average volume of 53,158,520. The firm has a market capitalization of $278.39 billion, a price-to-earnings ratio of 126.25, a P/E/G ratio of 2.27 and a beta of 1.94. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $182.50. The stock has a 50-day simple moving average of $138.58 and a 200 day simple moving average of $116.48. 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 (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the company posted $0.62 earnings per share. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, 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 initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMD has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on Advanced Micro Devices from $121.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday. Melius upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Monday, June 23rd. UBS Group upped their target price on Advanced Micro Devices from $150.00 to $210.00 and gave the company a "buy" rating in a report on Monday, July 28th. Barclays upped their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $120.00 target price (down previously from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. One 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's stock. Based on data from MarketBeat.com, 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.