Grassi Investment Management Increases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Grassi Investment Management grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,980 shares of the semiconductor manufacturer's stock after buying an additional 2,850 shares during the quarter. Advanced Micro Devices accounts for 1.4% of Grassi Investment Management's investment portfolio, making the stock its 16th biggest position. Grassi Investment Management's holdings in Advanced Micro Devices were worth $14,793,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $25,000. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices in the 4th quarter worth $29,000. Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices in the 4th quarter worth $30,000. Finally, Summit Securities Group LLC bought a new stake in Advanced Micro Devices in the fourth quarter worth $31,000. 71.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMD shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Seaport Res Ptn upgraded Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Citigroup restated a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. Evercore ISI dropped their price target on Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Fifteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.58.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 completion of the sale, the executive vice president now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Stock Up 0.4%

AMD stock traded up $0.50 during midday trading on Friday, hitting $116.19. The company's stock had a trading volume of 26,964,110 shares, compared to its average volume of 41,533,581. The company has a market cap of $188.39 billion, a PE ratio of 117.36, a P/E/G ratio of 1.11 and a beta of 1.97. The firm's 50-day moving average is $101.12 and its 200-day moving average is $112.29. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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