Formidable Asset Management LLC Acquires 5,149 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Formidable Asset Management LLC grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 86.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,076 shares of the semiconductor manufacturer's stock after purchasing an additional 5,149 shares during the period. Formidable Asset Management LLC's holdings in Advanced Micro Devices were worth $1,338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AMD. Vanguard Group Inc. grew its stake 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 valued at $18,143,884,000 after acquiring an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC grew its stake in Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock worth $4,224,840,000 after buying an additional 835,413 shares in the last quarter. Fisher Asset Management LLC grew its stake in Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after buying an additional 290,784 shares in the last quarter. Norges Bank purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Advanced Micro Devices by 9.9% in the 4th 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 buying an additional 1,929,225 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Buying and Selling at Advanced Micro Devices

In other 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 of the company's stock, 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 is accessible through this link. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Price Performance

AMD stock opened at $110.31 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The stock's 50 day moving average is $100.00 and its two-hundred day moving average is $114.07. The company has a market capitalization of $178.86 billion, a PE ratio of 111.43, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.62 EPS. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. Analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Loop Capital lowered their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wedbush restated 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. Argus set a $160.00 price objective on shares of Advanced Micro Devices in a report on Thursday, February 6th. Finally, TD Cowen boosted their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $132.58.

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.

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