Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Purchased by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd increased its stake in Advanced Micro Devices, Inc. (AMD) by 114% during the first quarter, owning 76,220 shares worth approximately $7.83 million.
• Multiple institutional investors have also increased their positions, highlighting a trend of increased confidence in AMD, with 71.34% of the stock owned by hedge funds and other institutions.
• Analysts have set a new price target for AMD, with a consensus rating of "Moderate Buy" and an average target price of $162.94 amid strong quarterly earnings and a share repurchase program announced by the company.

Maxi Investments CY Ltd increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 114.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,220 shares of the semiconductor manufacturer's stock after buying an additional 40,602 shares during the period. Advanced Micro Devices comprises approximately 1.6% of Maxi Investments CY Ltd's investment portfolio, making the stock its 19th biggest holding. Maxi Investments CY Ltd's holdings in Advanced Micro Devices were worth $7,831,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMD. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $28,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position 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 acquiring an additional 200 shares during the period. American Capital Advisory LLC increased its position 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 acquiring an additional 130 shares during the period. Finally, Investors Research Corp increased its position in shares of Advanced Micro Devices by 117.9% in the 1st quarter. Investors Research Corp now owns 305 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 165 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 5.7%

Shares of NASDAQ:AMD traded up $9.28 during midday trading on Thursday, reaching $172.40. 95,073,538 shares of the company's stock were exchanged, compared to its average volume of 45,999,844. The firm's 50 day simple moving average is $142.11 and its two-hundred day simple moving average is $117.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The stock has a market cap of $279.53 billion, a price-to-earnings ratio of 99.08, a P/E/G ratio of 2.31 and a beta of 1.94. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.61%. Advanced Micro Devices's quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a research report on Wednesday. Susquehanna increased their price target on Advanced Micro Devices from $135.00 to $210.00 and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Dbs Bank downgraded Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. DZ Bank raised Advanced Micro Devices from a "sell" rating to a "hold" rating and set a $165.00 price target on the stock in a research report on Thursday. Finally, Erste Group Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $178.56.

Insider Activity

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 value of $2,790,229.94. Following the completion of the transaction, the executive vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at 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.