Strategic Advocates LLC Increases Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Strategic Advocates LLC increased its stake in Advanced Micro Devices (AMD) by 175.9% during the first quarter, owning a total of 5,154 shares valued at approximately $530,000.
• Several institutional investors made significant changes to their positions in AMD, with hedge funds and other institutional investors holding 71.34% of the stock.
• Advanced Micro Devices has announced a $6.00 billion share repurchase program, indicating management's belief that the stock is undervalued.

Strategic Advocates LLC grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 175.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,154 shares of the semiconductor manufacturer's stock after acquiring an additional 3,286 shares during the period. Strategic Advocates LLC's holdings in Advanced Micro Devices were worth $530,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AMD. Toronto Dominion Bank increased its holdings in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in shares of Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp increased its holdings in shares of Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. GAMMA Investing LLC increased its holdings in shares of Advanced Micro Devices by 12,097.8% during the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after purchasing an additional 1,992,508 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after purchasing an additional 1,929,225 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Down 2.6%

Shares of NASDAQ:AMD traded down $4.61 during mid-day trading on Friday, reaching $171.70. 74,927,695 shares of the company's stock were exchanged, compared to its average volume of 53,158,520. The firm has a market capitalization of $278.39 billion, a price-to-earnings ratio of 126.25, a PEG ratio of 2.33 and a beta of 1.94. The business's fifty day moving average price is $138.58 and its 200-day moving average price is $116.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS 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 purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMD shares. Stifel Nicolaus reaffirmed a "buy" rating and set a $132.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. KeyCorp cut shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Melius raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research note on Monday, June 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average target price of $162.94.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction 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 $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.