Avondale Wealth Management Acquires 3,175 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avondale Wealth Management increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,550 shares of the semiconductor manufacturer's stock after purchasing an additional 3,175 shares during the quarter. Advanced Micro Devices makes up 0.7% of Avondale Wealth Management's investment portfolio, making the stock its 23rd largest holding. Avondale Wealth Management's holdings in Advanced Micro Devices were worth $1,084,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Advanced Micro Devices in the 4th quarter valued at $2,867,193,000. Toronto Dominion Bank grew its stake in 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 valued at $660,475,000 after buying an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in 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 valued at $364,459,000 after buying an additional 2,889,739 shares during the last quarter. Northern Trust Corp grew its stake in 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 valued at $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Advanced Micro Devices by 23.3% in the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock valued at $1,432,538,000 after buying an additional 2,238,866 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Down 2.6%

Shares of NASDAQ:AMD traded down $2.96 during trading on Friday, hitting $110.07. 36,035,850 shares of the company's stock were exchanged, compared to its average volume of 41,884,741. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The firm has a 50-day moving average price of $100.25 and a two-hundred day moving average price of $112.70. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a market cap of $178.47 billion, a P/E ratio of 111.18, a PEG ratio of 1.11 and a beta of 1.97.

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 the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the previous year, the company earned $0.62 EPS. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. Equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMD shares. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Sanford C. Bernstein reduced their price target on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. Citigroup reissued a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. Finally, Melius Research set a $110.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Fifteen investment 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 stock has a consensus rating of "Moderate Buy" and an average price target of $132.58.

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.