Oppenheimer & Co. Inc. Increases Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Oppenheimer & Co. Inc. grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,248 shares of the semiconductor manufacturer's stock after buying an additional 13,709 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Advanced Micro Devices were worth $12,560,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Main Street Financial Solutions LLC boosted its stake in Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after buying an additional 98 shares during the last quarter. BCM Advisors LLC boosted its stake in Advanced Micro Devices by 0.9% in the 4th quarter. BCM Advisors LLC now owns 12,197 shares of the semiconductor manufacturer's stock worth $1,366,000 after buying an additional 103 shares during the last quarter. Plancorp LLC boosted its stake in Advanced Micro Devices by 2.2% in the 4th quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock worth $620,000 after buying an additional 112 shares during the last quarter. Simmons Bank boosted its stake in Advanced Micro Devices by 5.4% in the 4th quarter. Simmons Bank now owns 2,198 shares of the semiconductor manufacturer's stock worth $265,000 after buying an additional 113 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its stake in Advanced Micro Devices by 16.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 787 shares of the semiconductor manufacturer's stock worth $95,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Mizuho raised their price target on Advanced Micro Devices from $117.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. TD Cowen boosted their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. HSBC upgraded Advanced Micro Devices from a "reduce" rating to a "hold" rating in a report on Tuesday, May 27th. Finally, Sanford C. Bernstein decreased their target price on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and an average price target of $134.61.

Advanced Micro Devices Trading Up 1.1%

NASDAQ:AMD opened at $128.24 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The business has a 50 day simple moving average of $108.14 and a 200 day simple moving average of $110.66. The firm has a market capitalization of $207.93 billion, a P/E ratio of 94.29, a P/E/G ratio of 1.66 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm's quarterly revenue was up 35.9% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.