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

Palouse Capital Management Inc. purchased a new position 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 purchased 11,171 shares of the semiconductor manufacturer's stock, valued at approximately $1,148,000.

Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in shares of Advanced Micro Devices in the 4th quarter worth $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at $31,000. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $2.34 during trading hours on Friday, reaching $116.16. 39,620,655 shares of the stock traded hands, compared to its average volume of 41,384,432. The company has a market capitalization of $188.34 billion, a P/E ratio of 117.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The company's 50-day simple moving average is $104.51 and its two-hundred day simple moving average is $111.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AMD has been the subject of a number of analyst reports. HSBC raised Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research report on Tuesday, May 27th. Bank of America increased their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Jefferies Financial Group lowered Advanced Micro Devices from a "buy" rating to a "hold" rating and decreased their target price for the company from $135.00 to $120.00 in a research report on Thursday, March 27th. Stifel Nicolaus reaffirmed a "buy" rating and set a $132.00 target price on shares of Advanced Micro Devices in a research report on Friday. Finally, DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a report on Thursday, May 8th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $134.13.

Advanced Micro Devices Company 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.