Professional Advisory Services Inc. Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Professional Advisory Services Inc. boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 23.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,161 shares of the semiconductor manufacturer's stock after buying an additional 27,070 shares during the period. Advanced Micro Devices accounts for about 2.0% of Professional Advisory Services Inc.'s investment portfolio, making the stock its 27th biggest holding. Professional Advisory Services Inc.'s holdings in Advanced Micro Devices were worth $14,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $29,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $30,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $116.19 on Friday. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $188.39 billion, a PE ratio of 117.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The stock's 50-day moving average price is $101.39 and its 200-day moving average price is $111.95.

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

Advanced Micro Devices declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity

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 directly 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on AMD shares. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Dbs Bank downgraded Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Raymond James reissued an "outperform" rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Mizuho upped their target price on Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Benchmark reissued a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. Fifteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.58.

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.

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