Cypress Asset Management Inc. TX Acquires New Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cypress Asset Management Inc. TX acquired a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,184 shares of the semiconductor manufacturer's stock, valued at approximately $4,527,000. Advanced Micro Devices accounts for approximately 1.1% of Cypress Asset Management Inc. TX's investment portfolio, making the stock its 29th largest position.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares during the period. Geode Capital Management LLC grew its holdings in Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock worth $4,224,840,000 after acquiring an additional 835,413 shares during the period. Fisher Asset Management LLC grew its holdings in Advanced Micro Devices by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after acquiring an additional 290,784 shares during the period. Norges Bank acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after acquiring an additional 1,929,225 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 3.9%

NASDAQ:AMD traded up $4.25 on Tuesday, reaching $114.56. The company's stock had a trading volume of 37,748,913 shares, compared to its average volume of 42,275,512. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $185.75 billion, a price-to-earnings ratio of 115.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The stock has a 50 day moving average price of $100.08 and a 200 day moving average price of $113.34.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating 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 the consensus estimate of $7.10 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company's revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a stock buyback plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AMD has been the topic of several analyst reports. Argus set a $160.00 target price on Advanced Micro Devices in a report on Thursday, February 6th. TD Cowen raised their price objective on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Loop Capital dropped their price objective on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and issued a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on 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. Fourteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.58.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.

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.