Bernard Wealth Management Corp. Makes New $3.68 Million Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bernard Wealth Management Corp. purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 30,470 shares of the semiconductor manufacturer’s stock, valued at approximately $3,680,000. Advanced Micro Devices accounts for about 1.7% of Bernard Wealth Management Corp.’s investment portfolio, making the stock its 14th biggest position.

Several other hedge funds also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $25,000. Greenline Partners LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $29,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $30,000. Finally, Summit Securities Group LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $31,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Advanced Micro Devices Trading Down 0.4%

AMD opened at $110.31 on Monday. The firm has a market capitalization of $178.86 billion, a P/E ratio of 111.43, a P/E/G ratio of 1.11 and a beta of 1.97. The firm’s 50 day moving average is $100.00 and its 200-day moving average is $113.61. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company 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 6.36% and a return on equity of 7.42%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. 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 repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Citigroup reiterated a “neutral” rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. Evercore ISI cut their price objective on shares of Advanced Micro Devices from $147.00 to $126.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. DZ Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Thursday, May 8th. Finally, Melius lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their price target for the company from $160.00 to $129.00 in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.58.

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.