Keudell Morrison Wealth Management Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Keudell Morrison Wealth Management lifted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 63.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,983 shares of the semiconductor manufacturer’s stock after buying an additional 1,541 shares during the period. Keudell Morrison Wealth Management’s holdings in Advanced Micro Devices were worth $409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after acquiring an additional 29,438 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after acquiring an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock worth $31,958,000 after acquiring an additional 29,825 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of Advanced Micro Devices by 3.0% during the fourth quarter. Wealthspire Advisors LLC now owns 11,044 shares of the semiconductor manufacturer’s stock worth $1,334,000 after acquiring an additional 321 shares in the last quarter. Finally, MONECO Advisors LLC increased its holdings in shares of Advanced Micro Devices by 10.7% in the fourth quarter. MONECO Advisors LLC now owns 8,755 shares of the semiconductor manufacturer’s stock worth $1,058,000 after purchasing an additional 845 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMD. Hsbc Global Res raised shares of Advanced Micro Devices from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 27th. Melius Research raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $175.00 in a report on Monday. Mizuho upped their price target on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Jefferies Financial Group cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $120.00 in a report on Thursday, March 27th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $120.00 price target (up previously from $100.00) on shares of Advanced Micro Devices in a report on Monday, June 9th. Thirteen research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.19.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $129.58 on Tuesday. 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 one year low of $76.48 and a one year high of $187.28. The company has a 50-day simple moving average of $108.84 and a two-hundred day simple moving average of $110.59. The firm has a market capitalization of $210.10 billion, a PE ratio of 95.28, a price-to-earnings-growth ratio of 1.66 and a beta of 1.99.

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

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

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is 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.