Ballast Inc. Raises Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Ballast Inc. boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.3% in the 1st quarter, Holdings Channel reports. The fund owned 9,389 shares of the semiconductor manufacturer’s stock after purchasing an additional 723 shares during the period. Ballast Inc.’s holdings in Advanced Micro Devices were worth $965,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC boosted its position in Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after purchasing an additional 234 shares during the period. Bank Pictet & Cie Europe AG boosted its position 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 worth $31,958,000 after purchasing an additional 29,825 shares during the period. Glass Jacobson Investment Advisors llc boosted its position in Advanced Micro Devices by 49.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 365 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 120 shares during the period. Finally, Nicolet Bankshares Inc. boosted its position in Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer’s stock worth $426,000 after purchasing an additional 1,271 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 0.2%

Shares of NASDAQ:AMD opened at $172.76 on Monday. The firm has a market cap of $280.36 billion, a P/E ratio of 99.29, a P/E/G ratio of 2.07 and a beta of 1.94. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $182.50. The business has a fifty day simple moving average of $144.55 and a 200 day simple moving average of $118.17.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. Analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMD. Truist Financial boosted their price objective on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Mizuho upped their target price on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. TD Cowen upped their target price on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Citigroup increased their price objective on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Finally, Melius upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.56.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares of the company’s stock, valued at $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate 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.