Phoenix Financial Ltd. Has $4.45 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Phoenix Financial Ltd. increased its stake in Advanced Micro Devices, Inc. by 17.7% during the first quarter, now holding shares worth $4.45 million.
• Advanced Micro Devices has announced a $6 billion stock buyback program, indicating a belief that the stock is undervalued.
• Wall Street analysts maintain a consensus of "Moderate Buy" for AMD, with a target price averaging $154.68.

Phoenix Financial Ltd. raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,190 shares of the semiconductor manufacturer's stock after purchasing an additional 6,506 shares during the quarter. Phoenix Financial Ltd.'s holdings in Advanced Micro Devices were worth $4,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMD. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $28,000. Mpwm Advisory Solutions LLC bought a new position in Advanced Micro Devices in the fourth quarter valued at about $30,000. Summit Securities Group LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter valued at about $31,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Finally, American Capital Advisory LLC increased its stake in shares of Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 130 shares during the period. Institutional investors own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

AMD has been the topic of several recent research reports. Barclays lifted their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Wedbush reiterated an "outperform" rating and set a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. Finally, Robert W. Baird reduced their price target on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.68.

Advanced Micro Devices Trading Up 2.7%

NASDAQ:AMD opened at $166.47 on Friday. 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 firm has a 50-day moving average of $132.24 and a 200-day moving average of $114.51. The company has a market cap of $269.91 billion, a PE ratio of 122.40, a PEG ratio of 2.14 and a beta of 2.05. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly 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 business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a stock 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In related 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 value of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.

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