Meridian Wealth Advisors LLC Has $3.55 Million Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Meridian Wealth Advisors LLC raised its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,517 shares of the semiconductor manufacturer's stock after purchasing an additional 6,197 shares during the quarter. Meridian Wealth Advisors LLC's holdings in Advanced Micro Devices were worth $3,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth $65,897,000. Vanguard Group Inc. boosted its stake in shares of Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. boosted its stake in shares of Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after acquiring an additional 1,271 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its stake in shares of Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after acquiring an additional 29,825 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday. Stifel Nicolaus reaffirmed a "buy" rating and issued a $132.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Morgan Stanley decreased their target price on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Bank of America raised their target price on Advanced Micro Devices from $130.00 to $175.00 in a research report on Wednesday. Finally, Hsbc Global Res raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $153.23.

Advanced Micro Devices Stock Down 2.1%

Shares of Advanced Micro Devices stock traded down $3.42 during trading hours on Friday, reaching $156.99. 48,717,572 shares of the company's stock were exchanged, compared to its average volume of 41,807,326. The company has a 50 day moving average of $127.67 and a two-hundred day moving average of $113.25. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $174.05. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a market cap of $254.54 billion, a P/E ratio of 115.43, a P/E/G ratio of 2.08 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued 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. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. On average, 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 share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication 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.