Pictet Asset Management Holding SA Has $518.34 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Pictet Asset Management Holding SA grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,044,996 shares of the semiconductor manufacturer's stock after buying an additional 339,408 shares during the quarter. Pictet Asset Management Holding SA owned 0.31% of Advanced Micro Devices worth $518,337,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $28,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $30,000. Summit Securities Group LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $31,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Finally, American Capital Advisory LLC increased its position in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Trading Up 1.0%

Advanced Micro Devices stock traded up $1.60 during midday trading on Monday, hitting $158.59. 16,097,863 shares of the stock were exchanged, compared to its average volume of 41,709,944. The company has a fifty day simple moving average of $127.67 and a two-hundred day simple moving average of $113.20. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $257.14 billion, a PE ratio of 116.49, a P/E/G ratio of 2.08 and a beta of 2.05. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $174.05.

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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a research report on Wednesday, July 16th. TD Cowen increased their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Mizuho increased their target price on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $154.68.

Insiders Place Their Bets

In other Advanced Micro Devices 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 value of $2,790,229.94. Following the transaction, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company's stock.

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.