Audent Global Asset Management LLC boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 240.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,992 shares of the semiconductor manufacturer's stock after purchasing an additional 25,414 shares during the period. Advanced Micro Devices comprises 2.8% of Audent Global Asset Management LLC's portfolio, making the stock its 12th largest position. Audent Global Asset Management LLC's holdings in Advanced Micro Devices were worth $4,347,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $1,546,000. High Net Worth Advisory Group LLC bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Advanced Micro Devices by 0.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,075 shares of the semiconductor manufacturer's stock worth $2,546,000 after acquiring an additional 177 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Advanced Micro Devices by 9.4% in the 4th quarter. PFG Investments LLC now owns 48,231 shares of the semiconductor manufacturer's stock valued at $5,826,000 after acquiring an additional 4,139 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.
Advanced Micro Devices Price Performance
Advanced Micro Devices stock traded down $2.71 during mid-day trading on Friday, hitting $110.32. The company's stock had a trading volume of 20,061,627 shares, compared to its average volume of 41,932,459. The stock has a market capitalization of $178.87 billion, a P/E ratio of 111.25, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The stock's fifty day moving average price is $100.34 and its two-hundred day moving average price is $113.11. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.
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, 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 analyst estimates of $7.10 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. Research analysts forecast 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 approved a share buyback program 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 programs are often a sign that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Stifel Nicolaus set a $132.00 target price on shares of Advanced Micro Devices in a report on Monday, April 28th. Wells Fargo & Company decreased their target price on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $120.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $132.58.
Get Our Latest Stock Analysis on Advanced Micro Devices
About Advanced Micro Devices
(
Free Report)
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.
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