Net Worth Advisory Group Acquires 4,408 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Net Worth Advisory Group grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 136.7% in the 1st quarter, Holdings Channel reports. The fund owned 7,632 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,408 shares during the quarter. Net Worth Advisory Group’s holdings in Advanced Micro Devices were worth $784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMD. Brighton Jones LLC lifted its position in Advanced Micro Devices by 178.2% in the fourth 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. Union Bancaire Privee UBP SA bought a new position in Advanced Micro Devices in the fourth quarter worth $34,366,000. Revolve Wealth Partners LLC lifted its position 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 purchasing an additional 234 shares during the period. Strategic Financial Concepts LLC lifted its position in Advanced Micro Devices by 16,019.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 397,030 shares of the semiconductor manufacturer’s stock worth $440,000 after purchasing an additional 394,567 shares during the period. Finally, Focus Financial Network Inc. lifted its position in Advanced Micro Devices by 3.8% in the fourth quarter. Focus Financial Network Inc. now owns 10,859 shares of the semiconductor manufacturer’s stock worth $1,312,000 after purchasing an additional 396 shares during the period. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Trading Down 1.7%

Shares of NASDAQ AMD opened at $121.14 on Thursday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The company has a market cap of $196.42 billion, a PE ratio of 122.36, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $103.06 and a two-hundred day moving average of $111.80.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. As a group, equities analysts expect 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 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 purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

AMD has been the subject of several research reports. Loop Capital reduced their target price on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Raymond James reaffirmed an “outperform” rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Barclays lifted their price objective on Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have issued 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 an average rating of “Moderate Buy” and a consensus price target of $133.23.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.

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.