Thomas Story & Son LLC Has $7.88 Million Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Thomas Story & Son LLC increased its stake in Advanced Micro Devices, Inc. by 33% during Q1, holding shares worth approximately $7.88 million.
• A share buyback program was approved by AMD's board, allowing the company to repurchase $6 billion worth of shares, indicating confidence in its stock value.
• AMD reported $0.48 earnings per share for its most recent quarter, missing estimates by 6 cents, although revenue was up 31.7% year-over-year.

Thomas Story & Son LLC lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 76,698 shares of the semiconductor manufacturer's stock after purchasing an additional 19,038 shares during the quarter. Advanced Micro Devices accounts for approximately 3.1% of Thomas Story & Son LLC's holdings, making the stock its 16th biggest holding. Thomas Story & Son LLC's holdings in Advanced Micro Devices were worth $7,880,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Resona Asset Management Co. Ltd. lifted its position in Advanced Micro Devices by 8.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 524,115 shares of the semiconductor manufacturer's stock worth $53,887,000 after buying an additional 39,075 shares in the last quarter. Finer Wealth Management Inc. raised its stake in shares of Advanced Micro Devices by 2.4% in the first quarter. Finer Wealth Management Inc. now owns 20,079 shares of the semiconductor manufacturer's stock worth $2,063,000 after acquiring an additional 469 shares during the last quarter. Bulltick Wealth Management LLC bought a new position in shares of Advanced Micro Devices in the first quarter worth about $387,000. Cypress Capital Group lifted its position in shares of Advanced Micro Devices by 11.1% during the first quarter. Cypress Capital Group now owns 18,320 shares of the semiconductor manufacturer's stock worth $1,882,000 after purchasing an additional 1,831 shares in the last quarter. Finally, WP Advisors LLC grew its stake in shares of Advanced Micro Devices by 52.3% during the first quarter. WP Advisors LLC now owns 11,628 shares of the semiconductor manufacturer's stock valued at $1,195,000 after purchasing an additional 3,991 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AMD. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Robert W. Baird reduced their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Truist Financial upped their price target on Advanced Micro Devices from $111.00 to $173.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Melius Research raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their price objective for the stock from $110.00 to $175.00 in a research note on Monday, June 23rd. Finally, DZ Bank upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating and set a $165.00 price objective for the company in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $179.21.

Advanced Micro Devices Price Performance

Shares of AMD opened at $172.28 on Tuesday. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The company's fifty day simple moving average is $145.71 and its 200 day simple moving average is $118.52. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50. The company has a market cap of $279.58 billion, a price-to-earnings ratio of 99.01, a PEG ratio of 2.07 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

Advanced Micro Devices 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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