Verdence Capital Advisors LLC Grows Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Verdence Capital Advisors LLC boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,475 shares of the semiconductor manufacturer’s stock after buying an additional 546 shares during the period. Verdence Capital Advisors LLC’s holdings in Advanced Micro Devices were worth $1,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMD. Brighton Jones LLC increased its stake in shares of Advanced Micro Devices by 178.2% during 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 during the period. Revolve Wealth Partners LLC boosted its holdings in 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 worth $1,001,000 after acquiring an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Advanced Micro Devices by 12.7% in 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 last quarter. Proficio Capital Partners LLC raised its position in Advanced Micro Devices by 36.9% during the fourth quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer’s stock valued at $589,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $7,089,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity

In other 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 value of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Advanced Micro Devices Trading Up 0.2%

NASDAQ AMD opened at $160.41 on Friday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $260.09 billion, a PE ratio of 117.95, a price-to-earnings-growth ratio of 2.14 and a beta of 2.05. The firm’s fifty day simple moving average is $126.58 and its 200-day simple moving average is $113.05.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of research analyst reports. KeyCorp lowered Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 8th. Citigroup reaffirmed a “hold” rating on shares of Advanced Micro Devices in a research report on Monday. Melius Research raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $110.00 to $175.00 in a research report on Monday, June 23rd. Dbs Bank downgraded Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.58.

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.