KLP Kapitalforvaltning AS Has $58.05 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

KLP Kapitalforvaltning AS boosted its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 565,047 shares of the semiconductor manufacturer's stock after buying an additional 19,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Advanced Micro Devices were worth $58,053,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMD. Greenline Partners LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 200 shares during the last quarter. American Capital Advisory LLC raised its holdings in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 130 shares in the last quarter. Kozak & Associates Inc. boosted its position in Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at $30,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Trading Up 2.2%

Shares of NASDAQ AMD traded up $3.47 during midday trading on Thursday, reaching $162.12. The stock had a trading volume of 47,358,030 shares, compared to its average volume of 43,456,309. The company's 50 day moving average price is $130.31 and its 200 day moving average price is $114.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $174.05. The firm has a market cap of $262.86 billion, a price-to-earnings ratio of 119.21, a price-to-earnings-growth ratio of 2.05 and a beta of 2.05.

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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has authorized a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices 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 sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wedbush restated an "outperform" rating and issued a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Benchmark reiterated a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Wells Fargo & Company upped their price objective on Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America lifted their target price on Advanced Micro Devices from $130.00 to $175.00 in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a "hold" rating and set a $140.00 price objective for the company in a research note on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $154.68.

Advanced Micro Devices 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.