Channel Wealth LLC Buys 854 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Channel Wealth LLC grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.1% during the 1st quarter, HoldingsChannel reports. The firm owned 17,520 shares of the semiconductor manufacturer’s stock after acquiring an additional 854 shares during the quarter. Channel Wealth LLC’s holdings in Advanced Micro Devices were worth $1,800,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMD. Norges Bank bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $2,867,193,000. Toronto Dominion Bank grew its position in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock worth $364,459,000 after acquiring an additional 2,889,739 shares during the last quarter. Northern Trust Corp grew its position in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Advanced Micro Devices by 23.3% during the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after acquiring an additional 2,238,866 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $118.58 on Thursday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The firm has a market capitalization of $192.27 billion, a price-to-earnings ratio of 119.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $100.86 and a 200-day moving average of $112.45.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results 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. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The business’s revenue was up 35.9% on a year-over-year basis. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMD shares. Wells Fargo & Company decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Melius Research set a $110.00 target price on Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $132.00 price target on Advanced Micro Devices in a research note on Monday, April 28th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $132.58.

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.