Formidable Asset Management LLC Buys 5,149 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Formidable Asset Management LLC increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 86.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,076 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,149 shares during the quarter. Formidable Asset Management LLC’s holdings in Advanced Micro Devices were worth $1,338,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AMD. KLP Kapitalforvaltning AS bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $65,897,000. Enzi Wealth bought a new position in Advanced Micro Devices in the 4th quarter valued at $569,000. Welch Group LLC lifted its stake in shares of Advanced Micro Devices by 6.3% in the 4th quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock valued at $6,179,000 after purchasing an additional 2,981 shares during the period. Stonegate Investment Group LLC lifted its stake in shares of Advanced Micro Devices by 39.5% in the 4th quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer’s stock valued at $61,896,000 after purchasing an additional 145,067 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMD. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Thursday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $120.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Dbs Bank cut Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Wells Fargo & Company decreased their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Robert W. Baird reduced their price target on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $132.58.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company’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 value of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. 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 corporate insiders.

Advanced Micro Devices Stock Down 0.4%

Shares of AMD stock opened at $110.31 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The stock has a market cap of $178.86 billion, a P/E ratio of 111.43, a P/E/G ratio of 1.11 and a beta of 1.97. 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 simple moving average of $100.00 and a two-hundred day simple moving average of $114.07.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS 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 business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was up 35.9% on a year-over-year basis. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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

Advanced Micro Devices Company 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.