Stevens Capital Management LP Acquires Shares of 54,910 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Stevens Capital Management LP has invested approximately $5.64 million in Advanced Micro Devices, acquiring 54,910 shares, making it the firm's 18th largest holding.
• Advanced Micro Devices has reported quarterly earnings of $0.96 per share, exceeding analyst estimates of $0.93, with revenue rising 35.9% year-over-year to $7.44 billion.
• The company initiated a $6 billion share buyback program to repurchase up to 3.1% of its outstanding shares, reflecting confidence in the company's value.

Stevens Capital Management LP bought a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 54,910 shares of the semiconductor manufacturer's stock, valued at approximately $5,641,000. Advanced Micro Devices comprises about 1.4% of Stevens Capital Management LP's portfolio, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMD. Greenline Partners LLC acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased 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 valued at $28,000 after purchasing an additional 200 shares during the period. American Capital Advisory LLC increased its stake in shares of Advanced Micro Devices by 90.3% during the first 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. Kozak & Associates Inc. grew its stake in shares of Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after purchasing an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at $30,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMD has been the subject of a number of recent analyst reports. Benchmark reaffirmed a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial reissued an "outperform" rating and set a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Morgan Stanley dropped their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, KeyCorp downgraded Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $154.68.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of the firm's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Up 2.7%

Advanced Micro Devices stock traded up $4.35 during midday trading on Friday, reaching $166.47. The stock had a trading volume of 53,186,893 shares, compared to its average volume of 46,238,572. The company has a market capitalization of $269.91 billion, a P/E ratio of 122.40, a PEG ratio of 2.14 and a beta of 2.05. The company has a fifty day moving average price of $132.24 and a two-hundred day moving average price of $114.51. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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 firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The business's revenue was up 35.9% compared to the same quarter last year. As a group, equities 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 authorized 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.