Triumph Capital Management Boosts Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Triumph Capital Management grew its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 27.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,327 shares of the semiconductor manufacturer’s stock after buying an additional 4,992 shares during the period. Advanced Micro Devices comprises approximately 1.0% of Triumph Capital Management’s portfolio, making the stock its 22nd biggest holding. Triumph Capital Management’s holdings in Advanced Micro Devices were worth $2,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $25,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $29,000. Summit Securities Group LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $32,000. Finally, IAG Wealth Partners LLC grew its stake in Advanced Micro Devices by 74.7% in the 4th quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 118 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 1.9%

Shares of AMD opened at $117.17 on Friday. The firm has a market cap of $189.98 billion, a P/E ratio of 118.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The company’s 50-day moving average price is $98.94 and its 200 day moving average price is $114.91. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Advanced Micro Devices’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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

Analysts Set New Price Targets

AMD has been the topic of a number of research analyst reports. Raymond James reissued an “outperform” rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Wedbush reaffirmed an “outperform” rating and set a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Melius cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $160.00 to $129.00 in a research note on Tuesday, January 28th. Summit Insights raised shares of Advanced Micro Devices to a “hold” rating in a research note on Tuesday, February 4th. Finally, Evercore ISI lowered their target price on shares of Advanced Micro Devices from $147.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.10.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

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.