Bridgewater Advisors Inc. Takes $586,000 Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bridgewater Advisors Inc. purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,100 shares of the semiconductor manufacturer's stock, valued at approximately $586,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AMD. Main Street Financial Solutions LLC raised its holdings in shares of Advanced Micro Devices by 3.9% in the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after buying an additional 98 shares during the period. Plancorp LLC lifted its position in Advanced Micro Devices by 2.2% in the fourth quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock valued at $620,000 after purchasing an additional 112 shares during the period. Jaffetilchin Investment Partners LLC grew its stake in Advanced Micro Devices by 1.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after acquiring an additional 115 shares during the period. Alaethes Wealth LLC lifted its holdings in Advanced Micro Devices by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after buying an additional 115 shares in the last quarter. Finally, Sunflower Bank N.A. increased its stake in shares of Advanced Micro Devices by 4.3% in the first quarter. Sunflower Bank N.A. now owns 2,808 shares of the semiconductor manufacturer's stock valued at $288,000 after purchasing an additional 116 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Down 1.3%

AMD traded down $2.02 during trading on Friday, hitting $158.39. The company's stock had a trading volume of 24,439,885 shares, compared to its average volume of 41,851,396. The stock's fifty day moving average price is $126.58 and its 200-day moving average price is $113.05. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $174.05. The firm has a market capitalization of $256.81 billion, a P/E ratio of 116.11, a PEG ratio of 2.14 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 (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, beating the consensus estimate of $0.93 by $0.03. The firm 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 business's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group cut their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Rosenblatt Securities restated 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 restated a "hold" rating on shares of Advanced Micro Devices in a research report on Monday. Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Melius raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.58.

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.