Vestmark Advisory Solutions Inc. Acquires 4,482 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Advanced Micro Devices, Inc. by 18.2%, acquiring an additional 4,482 shares, bringing its total holdings to 29,054 shares valued at approximately $2.985 million.
• Analysts have set a new consensus price target for AMD at $180.12, with 22 analysts rating it as a "buy" and 4 as a "strong buy."
• AMD's recent earnings report showed a missed EPS estimate of $0.48, despite a revenue increase of 31.7% year-over-year, highlighting significant growth in its business.

Vestmark Advisory Solutions Inc. raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 18.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,054 shares of the semiconductor manufacturer's stock after acquiring an additional 4,482 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Advanced Micro Devices were worth $2,985,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMD. Brighton Jones LLC grew its stake in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after buying an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after buying an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after purchasing an additional 29,825 shares during the period. Main Street Financial Solutions LLC boosted its position in Advanced Micro Devices by 3.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after purchasing an additional 98 shares during the period. Finally, Farringdon Capital Ltd. bought a new position in Advanced Micro Devices during the fourth quarter worth $226,000. 71.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, August 6th. Truist Financial lifted their price objective on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus price target of $180.12.

Insider Transactions at Advanced Micro Devices

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 owned 1,713,710 shares in the company, valued at $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Darren Grasby sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the transaction, the executive vice president owned 125,505 shares of the company's stock, valued at approximately $21,738,721.05. This trade represents a 7.38% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Down 1.9%

AMD stock opened at $177.51 on Friday. The stock has a market capitalization of $288.07 billion, a P/E ratio of 102.02, a price-to-earnings-growth ratio of 2.14 and a beta of 1.94. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $186.65. The firm has a 50-day moving average price of $150.71 and a 200-day moving average price of $120.26.

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

Advanced Micro Devices declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are 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.

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