Praxis Investment Management Inc. Acquires 5,830 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Praxis Investment Management Inc. boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,086 shares of the semiconductor manufacturer's stock after acquiring an additional 5,830 shares during the period. Praxis Investment Management Inc.'s holdings in Advanced Micro Devices were worth $4,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. Norges Bank acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $2,867,193,000. Toronto Dominion Bank raised its stake in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp raised its stake in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Advanced Micro Devices by 12,097.8% in the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after purchasing an additional 1,992,508 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AMD has been the topic of several recent research reports. HSBC raised Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Susquehanna lowered their target price on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a research report on Thursday, May 8th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. Finally, Dbs Bank cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.61.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded up $1.45 during trading on Friday, hitting $128.24. 79,777,415 shares of the company were exchanged, compared to its average volume of 41,681,040. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The company has a market capitalization of $207.93 billion, a P/E ratio of 94.29, a price-to-earnings-growth ratio of 1.66 and a beta of 1.99. The business's 50 day moving average is $108.14 and its 200-day moving average is $110.87.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are 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.