Neo Ivy Capital Management Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Neo Ivy Capital Management bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 34,899 shares of the semiconductor manufacturer's stock, valued at approximately $4,215,000. Advanced Micro Devices comprises 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 19th largest position.

Several other large investors have also recently made changes to their positions in AMD. Bear Mountain Capital Inc. bought a new stake in Advanced Micro Devices in the 4th quarter worth approximately $25,000. Greenline Partners LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $29,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $30,000. Finally, Summit Securities Group LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $31,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Argus set a $160.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, February 6th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. UBS Group dropped their target price on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, TD Cowen upped their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $132.58.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $110.71 on Friday. 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 market capitalization of $179.51 billion, a P/E ratio of 111.83, a P/E/G ratio of 1.11 and a beta of 1.97. The company's 50-day simple moving average is $99.87 and its two-hundred day simple moving average is $114.29. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28.

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

Advanced Micro Devices declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's management 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.

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