BluePointe Capital Management LLC Takes $419,000 Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

BluePointe Capital Management LLC acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,075 shares of the semiconductor manufacturer's stock, valued at approximately $419,000.

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

Wall Street Analyst Weigh In

AMD has been the topic of several analyst reports. UBS Group dropped their target price 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. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. Citigroup reissued a "hold" rating on shares of Advanced Micro Devices in a research report on Monday. Jefferies Financial Group lowered Advanced Micro Devices from a "buy" rating to a "hold" rating and decreased their price target for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Finally, Barclays boosted their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

Advanced Micro Devices Trading Down 0.1%

AMD opened at $146.24 on Tuesday. The firm has a market cap of $237.11 billion, a P/E ratio of 107.53, a P/E/G ratio of 1.95 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $185.50. The business has a fifty day simple moving average of $123.08 and a 200-day simple moving average of $112.16.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 EPS. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has initiated a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors 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.

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