State of Michigan Retirement System Has $82.50 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

State of Michigan Retirement System cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 803,040 shares of the semiconductor manufacturer's stock after selling 166,500 shares during the period. State of Michigan Retirement System's holdings in Advanced Micro Devices were worth $82,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $65,897,000. Vanguard Group Inc. grew its stake 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 worth $18,143,884,000 after acquiring an additional 1,441,626 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Advanced Micro Devices by 443.3% in the fourth 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 during the last quarter. Nicolet Bankshares Inc. lifted its position in shares of 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 purchasing an additional 1,271 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its holdings in 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 purchasing an additional 29,825 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded up $2.26 on Friday, reaching $146.42. 49,944,990 shares of the company's stock were exchanged, compared to its average volume of 41,762,071. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $186.99. The company has a fifty day moving average of $121.21 and a 200-day moving average of $112.07. The company has a market capitalization of $237.41 billion, a price-to-earnings ratio of 107.66, a PEG ratio of 1.86 and a beta of 2.05. 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 (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. The firm's quarterly revenue was up 35.9% 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 fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMD shares. Wedbush reaffirmed an "outperform" rating and issued a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. UBS Group lowered 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. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price objective for the company from $135.00 to $120.00 in a report on Thursday, March 27th. Robert W. Baird decreased their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $147.00.

Insider Buying and Selling at Advanced Micro Devices

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 transaction of $1,670,725.00. Following the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company's stock.

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.