Pine Haven Investment Counsel Inc Raises Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pine Haven Investment Counsel Inc increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,597 shares of the semiconductor manufacturer’s stock after purchasing an additional 240 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Advanced Micro Devices were worth $267,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AMD. KLP Kapitalforvaltning AS purchased a new stake in Advanced Micro Devices during the fourth quarter worth approximately $65,897,000. Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 1.0% during 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 acquiring an additional 1,441,626 shares in the last quarter. Empire Life Investments Inc. purchased a new stake in Advanced Micro Devices during the 4th quarter worth $717,000. Union Bancaire Privee UBP SA acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $34,366,000. Finally, bLong Financial LLC purchased a new position in Advanced Micro Devices in the fourth quarter valued at about $1,924,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $116.19 on Friday. The stock has a market capitalization of $188.39 billion, a PE ratio of 117.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The business’s fifty day moving average price is $101.39 and its 200 day moving average price is $112.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last issued 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. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion for 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% compared to the same quarter last year. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was 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 trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Loop Capital decreased 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. Jefferies Financial Group cut 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. Sanford C. Bernstein lowered their price objective on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Melius Research set a $110.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $120.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.58.

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.