Lewis Asset Management LLC Purchases 3,697 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Lewis Asset Management LLC raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 52.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 10,775 shares of the semiconductor manufacturer's stock after purchasing an additional 3,697 shares during the period. Advanced Micro Devices makes up approximately 0.9% of Lewis Asset Management LLC's portfolio, making the stock its 22nd biggest holding. Lewis Asset Management LLC's holdings in Advanced Micro Devices were worth $1,107,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AMD. Vanguard Group Inc. grew its position 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 purchasing an additional 1,441,626 shares in the last quarter. Toronto Dominion Bank grew 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 valued at $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. grew its position in Advanced Micro Devices by 56.4% in the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after acquiring an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after acquiring an additional 29,825 shares in the last quarter. Finally, Heritage Trust Co purchased a new position in Advanced Micro Devices in the fourth quarter worth $804,000. Institutional investors own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent analyst reports. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Robert W. Baird cut their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and issued a $120.00 price target (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group upped their price objective on shares of Advanced Micro Devices from $100.00 to $160.00 in a report on Wednesday, July 16th. Eleven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $154.68.

Advanced Micro Devices Trading Up 0.0%

AMD stock traded up $0.01 during mid-day trading on Monday, reaching $157.00. The company's stock had a trading volume of 38,811,287 shares, compared to its average volume of 41,796,177. The company has a market cap of $254.56 billion, a price-to-earnings ratio of 115.44, a price-to-earnings-growth ratio of 2.08 and a beta of 2.05. The business's 50 day moving average price is $127.67 and its 200 day moving average price is $113.20. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $174.05.

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 (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

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.