Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Advanced Micro Devices (AMD) by 12.2%, acquiring 330,775 additional shares, bringing its total ownership to approximately 3,046,364 shares valued at $312.98 million.
• Advanced Micro Devices announced a stock buyback program for up to $6 billion, indicating that the board believes the stock is currently undervalued.
• The company's recent quarterly earnings reported an EPS of $0.48, below analysts' expectations of $0.54, despite a revenue increase of 31.7% year-over-year, totaling $7.69 billion.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,046,364 shares of the semiconductor manufacturer's stock after acquiring an additional 330,775 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Advanced Micro Devices worth $312,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AMD. Toronto Dominion Bank raised its stake in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after buying an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. raised its position in Advanced Micro Devices by 56.4% in the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after acquiring an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after acquiring an additional 29,825 shares during the period. Heritage Trust Co purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth $804,000. Finally, Valicenti Advisory Services Inc. grew its stake in shares of Advanced Micro Devices by 4.0% during the 1st quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock worth $7,893,000 after purchasing an additional 2,944 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The shares were 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 in the company, valued at $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $163.12 on Thursday. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The company has a market cap of $264.48 billion, a PE ratio of 93.75, a P/E/G ratio of 2.31 and a beta of 1.94. The company's fifty day simple moving average is $142.11 and its 200-day simple moving average is $117.55. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.61% and a net margin of 9.57%. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company's revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMD. Erste Group Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Melius Research raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and boosted their price target for the stock from $110.00 to $175.00 in a research note on Monday, June 23rd. Susquehanna raised their price objective on Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Benchmark boosted their target price on Advanced Micro Devices from $170.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Hsbc Global Res upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $178.09.

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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