IMA Advisory Services Inc. Increases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

IMA Advisory Services Inc. raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,870 shares of the semiconductor manufacturer's stock after buying an additional 1,954 shares during the period. IMA Advisory Services Inc.'s holdings in Advanced Micro Devices were worth $1,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMD. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $4,224,840,000 after buying an additional 835,413 shares in the last quarter. Norges Bank acquired a new position in Advanced Micro Devices during the fourth quarter worth $2,867,193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Advanced Micro Devices by 9.9% in the fourth 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 valued at $2,585,079,000 after buying an additional 1,929,225 shares during the last quarter. Northern Trust Corp raised its position in shares of Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Advanced Micro Devices by 7.2% in the fourth quarter. Invesco Ltd. now owns 11,368,317 shares of the semiconductor manufacturer's stock valued at $1,373,179,000 after buying an additional 765,447 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Down 1.5%

Shares of AMD stock opened at $154.72 on Wednesday. The firm has a 50-day moving average price of $127.67 and a 200 day moving average price of $113.20. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $174.05. The company has a market capitalization of $250.86 billion, a price-to-earnings ratio of 113.76, a PEG ratio of 2.08 and a beta of 2.05. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. 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 of Directors has authorized a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on AMD shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Citigroup increased their target price on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Stifel Nicolaus reissued a "buy" rating and set a $132.00 price target on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Melius raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research report on Monday, June 23rd. Eleven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $154.68.

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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