Envestnet Portfolio Solutions Inc. Boosts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Envestnet Portfolio Solutions Inc. grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,366 shares of the semiconductor manufacturer's stock after purchasing an additional 9,168 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Advanced Micro Devices were worth $10,312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $25,000. Greenline Partners LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $29,000. Kozak & Associates Inc. boosted its stake in shares of Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $126.79 on Friday. The firm's fifty day simple moving average is $107.44 and its 200-day simple moving average is $111.19. The stock has a market capitalization of $205.58 billion, a price-to-earnings ratio of 93.23, a PEG ratio of 1.64 and a beta of 1.99. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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. The business had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company's quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. As a group, equities analysts forecast 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 initiated a stock repurchase 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 repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

AMD has been the subject of several recent research reports. UBS Group lowered their price objective 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. Sanford C. Bernstein decreased 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 research note on Tuesday, April 22nd. TD Cowen lifted their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial reiterated an "outperform" rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $134.61.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices 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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