Assenagon Asset Management S.A. Purchases 73,657 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Assenagon Asset Management S.A. increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,614,342 shares of the semiconductor manufacturer's stock after purchasing an additional 73,657 shares during the quarter. Advanced Micro Devices comprises about 1.5% of Assenagon Asset Management S.A.'s portfolio, making the stock its 9th biggest holding. Assenagon Asset Management S.A. owned 0.53% of Advanced Micro Devices worth $885,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Bear Mountain Capital Inc. acquired a new stake in Advanced Micro Devices during the 4th quarter worth about $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices in the fourth quarter worth approximately $29,000. Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices in the fourth quarter worth approximately $30,000. Finally, Summit Securities Group LLC acquired a new position in Advanced Micro Devices in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 sale, 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 document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMD shares. Barclays upped their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. TD Cowen lifted their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Evercore ISI lifted their price target on shares of Advanced Micro Devices from $126.00 to $144.00 and gave the stock an "outperform" rating in a research note on Friday. KeyCorp cut Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Finally, HSBC raised Advanced Micro Devices from a "reduce" rating to a "hold" rating in a report on Tuesday, May 27th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.13.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $2.34 during mid-day trading on Friday, reaching $116.16. The company had a trading volume of 39,620,655 shares, compared to its average volume of 41,413,918. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The firm has a market cap of $188.34 billion, a price-to-earnings ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The business's 50-day simple moving average is $104.51 and its 200 day simple moving average is $111.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter last year, the business earned $0.62 earnings per share. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Advanced Micro Devices Company 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.