iA Global Asset Management Inc. Has $18.33 Million Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• iA Global Asset Management Inc. increased its holdings in Advanced Micro Devices by 2.0% in Q1, now owning 178,379 shares valued at approximately $18.33 million.
• Multiple analysts have reaffirmed a "buy" rating for AMD, with price targets ranging from $120 to $200, while the stock received a consensus rating of "Moderate Buy."
• AMD has initiated a $6 billion stock repurchase program, signaling that its board believes the stock is undervalued, while the company reported strong quarterly earnings, exceeding expectations.

iA Global Asset Management Inc. lifted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,379 shares of the semiconductor manufacturer's stock after acquiring an additional 3,465 shares during the quarter. iA Global Asset Management Inc.'s holdings in Advanced Micro Devices were worth $18,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMD. Main Street Financial Solutions LLC lifted its holdings in Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after purchasing an additional 98 shares during the last quarter. Peterson Wealth Services increased its holdings in Advanced Micro Devices by 2.9% during the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock worth $375,000 after purchasing an additional 103 shares in the last quarter. Lifeworks Advisors LLC grew its holdings in shares of Advanced Micro Devices by 5.6% in the first quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock valued at $203,000 after acquiring an additional 104 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its position in shares of Advanced Micro Devices by 1.5% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after acquiring an additional 115 shares in the last quarter. Finally, Alaethes Wealth LLC increased its holdings in shares of Advanced Micro Devices by 0.7% in the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after purchasing an additional 115 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on AMD. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Benchmark reiterated a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Wedbush reiterated an "outperform" rating and set a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $132.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Finally, Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a "buy" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.94.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $176.78 on Tuesday. The firm has a market cap of $286.63 billion, a price-to-earnings ratio of 129.99, a price-to-earnings-growth ratio of 2.27 and a beta of 1.94. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $139.91 and a 200-day moving average price of $116.83. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The company's quarterly revenue was up 35.9% compared to the same quarter last year. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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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