E Fund Management Co. Ltd. Acquires 46,439 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• E Fund Management Co. Ltd. significantly increased its stake in Advanced Micro Devices (AMD) by 69.9%, now owning 112,895 shares valued at approximately $11.6 million.
• Advanced Micro Devices has received several upgrades from analysts, with Melius raising its price target from $110 to $175 and Deutsche Bank setting a target of $200.
• The company recently reported earnings with a net margin of 9.57% and revenue of $7.69 billion, which was above the analysts' consensus estimate.

E Fund Management Co. Ltd. boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 69.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,895 shares of the semiconductor manufacturer's stock after purchasing an additional 46,439 shares during the period. Advanced Micro Devices comprises about 0.6% of E Fund Management Co. Ltd.'s holdings, making the stock its 27th largest holding. E Fund Management Co. Ltd.'s holdings in Advanced Micro Devices were worth $11,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AMD. Toronto Dominion Bank increased its position in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after buying an additional 4,461,609 shares during the period. Bank Pictet & Cie Europe AG increased 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 buying an additional 29,825 shares during the period. Valicenti Advisory Services Inc. increased its position in shares of Advanced Micro Devices by 4.0% during the first quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock worth $7,893,000 after buying an additional 2,944 shares during the period. Sound Income Strategies LLC increased its position in shares of Advanced Micro Devices by 17.2% during the first quarter. Sound Income Strategies LLC now owns 1,728 shares of the semiconductor manufacturer's stock worth $178,000 after buying an additional 253 shares during the period. Finally, Brighton Jones LLC grew its holdings in Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Down 1.8%

NASDAQ:AMD traded down $3.30 during midday trading on Thursday, reaching $181.12. 21,368,443 shares of the stock traded hands, compared to its average volume of 46,536,617. The company has a fifty day moving average of $148.18 and a 200 day moving average of $119.36. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $186.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 2.49. The stock has a market capitalization of $293.92 billion, a P/E ratio of 104.27, a PEG ratio of 2.07 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company's quarterly revenue was up 31.7% compared to the same quarter last year. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has approved a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Darren Grasby sold 10,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the transaction, the executive vice president owned 125,505 shares of the company's stock, valued at $21,738,721.05. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wedbush restated a "cautious" rating on shares of Advanced Micro Devices in a report on Saturday. Citigroup raised their price target on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Barclays raised their price target on shares of Advanced Micro Devices from $130.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a "hold" rating and set a $140.00 price target for the company in a report on Thursday, July 10th. Finally, Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $185.00 to $168.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $180.12.

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.