Arizona State Retirement System Buys 6,722 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Arizona State Retirement System raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 476,179 shares of the semiconductor manufacturer's stock after purchasing an additional 6,722 shares during the period. Arizona State Retirement System's holdings in Advanced Micro Devices were worth $48,923,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMD. Main Street Financial Solutions LLC boosted its stake in Advanced Micro Devices by 3.9% in the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after buying an additional 98 shares in the last quarter. Plancorp LLC raised its stake in shares of Advanced Micro Devices by 2.2% during the fourth quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock valued at $620,000 after acquiring an additional 112 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in Advanced Micro Devices by 1.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after buying an additional 115 shares during the period. Alaethes Wealth LLC lifted its stake in Advanced Micro Devices by 0.7% in the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after acquiring an additional 115 shares during the period. Finally, Sunflower Bank N.A. boosted its stake in shares of Advanced Micro Devices by 4.3% during the 1st quarter. Sunflower Bank N.A. now owns 2,808 shares of the semiconductor manufacturer's stock valued at $288,000 after purchasing an additional 116 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded up $2.26 during midday trading on Friday, reaching $146.42. 49,944,990 shares of the company traded hands, compared to its average volume of 41,762,072. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $186.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The business has a 50 day moving average of $122.16 and a two-hundred day moving average of $112.20. The firm has a market capitalization of $237.41 billion, a price-to-earnings ratio of 107.66, a price-to-earnings-growth ratio of 1.86 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results 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 business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. As a group, research analysts predict 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 stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMD shares. Stifel Nicolaus restated a "buy" rating and issued a $132.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Citigroup increased their price objective on Advanced Micro Devices from $120.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Susquehanna dropped their target price on shares of Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Mizuho increased their price target on shares of Advanced Micro Devices from $135.00 to $152.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.00.

Insider Transactions at Advanced Micro Devices

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 stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Advanced Micro Devices 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.