Alecta Tjanstepension Omsesidigt Has $180.19 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Alecta Tjanstepension Omsesidigt increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 27.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,754,000 shares of the semiconductor manufacturer's stock after buying an additional 380,000 shares during the period. Alecta Tjanstepension Omsesidigt owned about 0.11% of Advanced Micro Devices worth $180,188,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $2,867,193,000. Toronto Dominion Bank lifted its stake in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after acquiring an additional 2,889,739 shares during the period. Northern Trust Corp lifted its stake in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Advanced Micro Devices by 12,097.8% in the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after acquiring an additional 1,992,508 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Advanced Micro Devices

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

Advanced Micro Devices Trading Up 2.5%

AMD traded up $4.00 during mid-day trading on Friday, hitting $166.12. The stock had a trading volume of 37,935,700 shares, compared to its average volume of 43,420,504. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05. 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 stock's fifty day simple moving average is $131.25 and its 200-day simple moving average is $114.24. The firm has a market capitalization of $269.34 billion, a price-to-earnings ratio of 122.10, a price-to-earnings-growth ratio of 2.10 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.03% and a return on equity of 8.30%. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the business posted $0.62 earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. As a group, research analysts forecast 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 approved a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMD shares. Robert W. Baird reduced their price target 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. Melius upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research report on Monday, June 23rd. Morgan Stanley lowered 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. Benchmark restated a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Finally, TD Cowen upped their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.68.

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.