Lumbard & Kellner LLC Purchases Shares of 38,093 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Lumbard & Kellner LLC bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,093 shares of the semiconductor manufacturer's stock, valued at approximately $3,914,000. Advanced Micro Devices accounts for approximately 1.7% of Lumbard & Kellner LLC's investment portfolio, making the stock its 21st largest holding.

Other large investors also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the 4th quarter valued at about $25,000. Greenline Partners LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $29,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $30,000. Finally, Summit Securities Group LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $31,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction 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. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on AMD shares. 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 note on Wednesday, May 7th. Bank of America upped their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. Finally, DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research note on Thursday, May 8th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $134.61.

Advanced Micro Devices Stock Up 1.1%

Shares of NASDAQ AMD traded up $1.45 during trading hours on Friday, hitting $128.24. The company had a trading volume of 79,777,415 shares, compared to its average volume of 41,759,649. The stock has a market capitalization of $207.93 billion, a P/E ratio of 94.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.99. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The firm's 50 day moving average is $107.44 and its 200-day moving average is $111.19.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The firm'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 expect 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 initiated a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.