NorthRock Partners LLC Grows Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• NorthRock Partners LLC increased its stake in Advanced Micro Devices, acquiring an additional 2,675 shares and bringing its total to 29,034 shares, valued at approximately $2.98 million.
• Multiple hedge funds, including Toronto Dominion Bank and Nicolet Bankshares Inc., significantly raised their holdings in Advanced Micro Devices, indicating strong institutional interest with 71.34% of the stock owned by institutional investors.
• Analysts have a generally positive outlook on Advanced Micro Devices, with the average target price set at $158.45 and several ratings upgraded to "buy," reflecting expected earnings growth.

NorthRock Partners LLC raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,034 shares of the semiconductor manufacturer's stock after buying an additional 2,675 shares during the quarter. NorthRock Partners LLC's holdings in Advanced Micro Devices were worth $2,983,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Main Street Financial Solutions LLC raised its position in Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 98 shares during the last quarter. Peterson Wealth Services raised 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 purchasing an additional 103 shares during the last quarter. Lifeworks Advisors LLC raised its position in Advanced Micro Devices by 5.6% in 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 raised its position in Advanced Micro Devices by 1.5% in 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 raised its position in Advanced Micro Devices by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Dbs Bank downgraded Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the stock an "outperform" rating in a research report on Friday, June 13th. Susquehanna boosted their target price on Advanced Micro Devices from $135.00 to $210.00 and gave the stock a "positive" rating in a research report on Wednesday. HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 target price for the company in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.94.

Advanced Micro Devices Trading Up 1.2%

AMD traded up $2.07 on Wednesday, reaching $179.51. 63,549,276 shares of the company traded hands, compared to its average volume of 49,722,936. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $182.31. The firm has a fifty day simple moving average of $136.04 and a two-hundred day simple moving average of $115.69. The company has a market cap of $291.06 billion, a P/E ratio of 131.99, a price-to-earnings-growth ratio of 2.35 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion during 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%. The company's revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has approved a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company'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 sale, 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 accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

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.