HighPoint Advisor Group LLC Raises Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

HighPoint Advisor Group LLC lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,181 shares of the semiconductor manufacturer’s stock after acquiring an additional 393 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Advanced Micro Devices were worth $3,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Toronto Dominion Bank lifted its position in Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. lifted its position in Advanced Micro Devices by 56.4% in the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer’s stock valued at $426,000 after acquiring an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock valued at $31,958,000 after buying an additional 29,825 shares during the last quarter. Finally, Heritage Trust Co purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth $804,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 0.6%

Advanced Micro Devices stock opened at $158.01 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The stock has a market capitalization of $256.20 billion, a price-to-earnings ratio of 116.30, a PEG ratio of 2.08 and a beta of 2.05. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05. The business has a fifty day moving average price of $127.67 and a 200-day moving average price of $113.20.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company’s revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has approved a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on AMD. Mizuho increased their price objective on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Melius raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Monday, June 23rd. Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Morgan Stanley cut their target price on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Finally, Barclays upped their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $154.68.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by company insiders.

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.