Advanced Micro Devices, Inc. (NASDAQ:AMD) Holdings Lifted by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 21.9% in the first quarter, HoldingsChannel reports. The fund owned 34,517 shares of the semiconductor manufacturer’s stock after buying an additional 6,197 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Advanced Micro Devices were worth $3,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC raised its stake in shares of Advanced Micro Devices by 90.3% in the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 130 shares in the last quarter. Kozak & Associates Inc. raised its stake in shares of Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 123 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $30,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMD has been the topic of a number of research analyst reports. Hsbc Global Res raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 10th. Barclays raised their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Piper Sandler set a $270.00 target price on Advanced Micro Devices and gave the company an “overweight” rating in a report on Thursday, July 10th. Raymond James Financial restated an “outperform” rating and set a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.23.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $156.99 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05. The firm has a market capitalization of $254.54 billion, a P/E ratio of 115.43, a price-to-earnings-growth ratio of 2.08 and a beta of 2.05. The company’s 50-day moving average is $127.67 and its 200 day moving average is $113.25.

Advanced Micro Devices (NASDAQ:AMD) last released 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 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 company’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. Research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.