Lake Hills Wealth Management LLC purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,695 shares of the semiconductor manufacturer's stock, valued at approximately $380,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in AMD. Norges Bank purchased a new position in Advanced Micro Devices during the fourth quarter worth about $2,867,193,000. Toronto Dominion Bank boosted its position in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Northern Trust Corp raised its position in Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Finally, Van ECK Associates Corp increased its stake in Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.
Insiders Place Their Bets
In other Advanced Micro Devices 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.
Advanced Micro Devices Stock Performance
Shares of NASDAQ:AMD traded up $0.50 during midday trading on Friday, hitting $116.19. The stock had a trading volume of 26,964,110 shares, compared to its average volume of 41,498,489. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. 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 stock has a 50 day moving average price of $101.39 and a two-hundred day moving average price of $111.95. The company has a market capitalization of $188.39 billion, a PE ratio of 117.36, a P/E/G ratio of 1.11 and a beta of 1.99.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.
Advanced Micro Devices declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Morgan Stanley cut their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Raymond James reiterated an "outperform" rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Bank of America boosted their target price on Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, UBS Group reduced their price target on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average target price of $132.58.
Read Our Latest Research Report on AMD
About Advanced Micro Devices
(
Free Report)
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.
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