Hennion & Walsh Asset Management Inc. Has $1.48 Million Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hennion & Walsh Asset Management Inc. increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,361 shares of the semiconductor manufacturer's stock after acquiring an additional 4,026 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Advanced Micro Devices were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the fourth quarter worth $25,000. Greenline Partners LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth $29,000. Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth $30,000. Finally, Summit Securities Group LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth $31,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 2.4%

Shares of AMD opened at $115.69 on Friday. The stock's 50-day moving average price is $101.12 and its two-hundred day moving average price 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 market capitalization of $187.58 billion, a PE ratio of 116.86, a PEG ratio of 1.11 and a beta of 1.97. 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 released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, 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 share buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's 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 sale, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the topic of several research analyst reports. UBS Group lowered their price target on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Loop Capital lowered their price target on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Bank of America raised their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $120.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average price target 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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