Nemes Rush Group LLC Has $4.84 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Nemes Rush Group LLC increased its stake in Advanced Micro Devices, Inc. by 11.4%, bringing its total holdings to 47,080 shares valued at approximately $4.84 million.
• Advanced Micro Devices reported earnings of $0.96 EPS, exceeding expectations of $0.93, while revenue reached $7.44 billion, showing a year-over-year increase of 35.9%.
• The company's Board of Directors has approved a $6 billion share buyback program, indicating a belief that the stock is currently undervalued.

Nemes Rush Group LLC boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,080 shares of the semiconductor manufacturer's stock after purchasing an additional 4,832 shares during the quarter. Nemes Rush Group LLC's holdings in Advanced Micro Devices were worth $4,837,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMD. Main Street Financial Solutions LLC raised its holdings in Advanced Micro Devices by 3.9% during the fourth 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 lifted its position in Advanced Micro Devices by 2.9% in the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock valued at $375,000 after acquiring an additional 103 shares in the last quarter. Lifeworks Advisors LLC boosted its stake 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 valued at $203,000 after purchasing an additional 104 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its stake 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 valued at $957,000 after purchasing an additional 115 shares during the last quarter. Finally, Alaethes Wealth LLC increased its holdings in Advanced Micro Devices by 0.7% during the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after purchasing an additional 115 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 2.7%

Shares of NASDAQ:AMD opened at $166.47 on Friday. 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 fifty day simple moving average of $132.24 and a two-hundred day simple moving average of $114.46. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $174.05. The stock has a market capitalization of $269.91 billion, a price-to-earnings ratio of 122.40, a PEG ratio of 2.20 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, topping 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 business 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 company earned $0.62 earnings per share. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm'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 transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday. DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 target price on the stock in a research note on Thursday, July 10th. Melius Research upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from $110.00 to $175.00 in a research note on Monday, June 23rd. Finally, Bank of America lifted their target price on shares of Advanced Micro Devices from $130.00 to $175.00 in a research note on Wednesday, July 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus price target of $154.68.

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.

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