Mackenzie Financial Corp Purchases 73,062 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Mackenzie Financial Corp grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 36.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,398 shares of the semiconductor manufacturer's stock after acquiring an additional 73,062 shares during the period. Mackenzie Financial Corp's holdings in Advanced Micro Devices were worth $32,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the last quarter. RFG Advisory LLC lifted its holdings in Advanced Micro Devices by 29.9% during the 4th quarter. RFG Advisory LLC now owns 8,310 shares of the semiconductor manufacturer's stock valued at $1,004,000 after purchasing an additional 1,915 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Advanced Micro Devices during the 4th quarter valued at $1,546,000. Toth Financial Advisory Corp lifted its holdings in Advanced Micro Devices by 5.6% during the 4th quarter. Toth Financial Advisory Corp now owns 5,988 shares of the semiconductor manufacturer's stock valued at $723,000 after purchasing an additional 315 shares during the last quarter. Finally, Jacksonville Wealth Management LLC acquired a new stake in Advanced Micro Devices during the 4th quarter valued at $572,000. Institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMD. Morgan Stanley cut their price target on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Susquehanna dropped their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Barclays raised their price target on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Melius Research set a $110.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $120.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus price target of $132.58.

Advanced Micro Devices Trading Up 3.9%

Shares of Advanced Micro Devices stock traded up $4.25 on Tuesday, hitting $114.56. 37,748,913 shares of the company's stock traded hands, compared to its average volume of 42,275,427. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The company has a fifty day moving average of $100.08 and a two-hundred day moving average of $113.34. The company has a market capitalization of $185.75 billion, a price-to-earnings ratio of 115.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The firm's revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.