QRG Capital Management Inc. Has $18.99 Million Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

QRG Capital Management Inc. raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 184,864 shares of the semiconductor manufacturer's stock after buying an additional 8,515 shares during the quarter. QRG Capital Management Inc.'s holdings in Advanced Micro Devices were worth $18,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AMD. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $25,000. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $29,000. Kozak & Associates Inc. raised its position in Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Analyst Ratings Changes

AMD has been the topic of a number of recent research reports. TD Cowen lifted their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. KeyCorp downgraded Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Susquehanna decreased their price target on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Robert W. Baird reduced their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $134.13.

Advanced Micro Devices Trading Down 2.0%

Shares of AMD stock opened at $116.16 on Monday. The stock has a market cap of $188.34 billion, a price-to-earnings ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The stock has a 50-day moving average of $104.51 and a 200-day moving average of $111.15. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The business's quarterly revenue was up 35.9% on a year-over-year basis. On average, equities research 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 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

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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