Thoroughbred Financial Services LLC Has $1.89 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Thoroughbred Financial Services LLC reduced its holdings in Advanced Micro Devices, Inc. by 41.5%, owning 18,404 shares worth approximately $1.89 million after selling 13,081 shares in the first quarter.
• Advanced Micro Devices reported quarterly earnings of $0.48 EPS, missing analysts' estimates, despite achieving a revenue of $7.69 billion, which exceeded expectations by 31.7% compared to the previous year.
• The company has authorized a $6 billion stock buyback program, indicating management's belief that its shares are currently undervalued.

Thoroughbred Financial Services LLC reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,404 shares of the semiconductor manufacturer's stock after selling 13,081 shares during the quarter. Thoroughbred Financial Services LLC's holdings in Advanced Micro Devices were worth $1,890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMD. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted 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 buying an additional 200 shares during the last quarter. American Capital Advisory LLC lifted its holdings 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 worth $28,000 after buying an additional 130 shares during the last quarter. Kozak & Associates Inc. lifted its holdings in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $30,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

Shares of AMD stock traded up $9.28 during trading hours on Thursday, hitting $172.40. 95,073,538 shares of the company's stock were exchanged, compared to its average volume of 65,171,756. The stock's 50-day moving average is $143.30 and its 200-day moving average is $117.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.97. The stock has a market cap of $279.53 billion, a price-to-earnings ratio of 99.08, a price-to-earnings-growth ratio of 2.15 and a beta of 1.94. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $182.50.

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

Advanced Micro Devices declared that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMD. Evercore ISI upped their price target on Advanced Micro Devices from $144.00 to $188.00 and gave the stock an "outperform" rating in a report on Wednesday. Truist Financial upped their price target on Advanced Micro Devices from $111.00 to $173.00 and gave the stock a "hold" rating in a report on Wednesday. Barclays upped their price target on Advanced Micro Devices from $130.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday. Benchmark boosted their price objective on Advanced Micro Devices from $170.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Susquehanna boosted their price objective on Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average target price of $178.56.

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.