Resona Asset Management Co. Ltd. Boosts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Resona Asset Management Co. Ltd. grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 524,115 shares of the semiconductor manufacturer's stock after buying an additional 39,075 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Advanced Micro Devices were worth $53,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Finer Wealth Management Inc. increased its position in shares of Advanced Micro Devices by 2.4% in the first quarter. Finer Wealth Management Inc. now owns 20,079 shares of the semiconductor manufacturer's stock valued at $2,063,000 after buying an additional 469 shares in the last quarter. Bulltick Wealth Management LLC purchased a new stake in shares of Advanced Micro Devices in the first quarter valued at approximately $387,000. Cypress Capital Group increased its position in shares of Advanced Micro Devices by 11.1% in the first quarter. Cypress Capital Group now owns 18,320 shares of the semiconductor manufacturer's stock valued at $1,882,000 after buying an additional 1,831 shares in the last quarter. WP Advisors LLC increased its position in shares of Advanced Micro Devices by 52.3% during the first quarter. WP Advisors LLC now owns 11,628 shares of the semiconductor manufacturer's stock worth $1,195,000 after purchasing an additional 3,991 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its position in shares of Advanced Micro Devices by 18.9% during the first quarter. Motley Fool Asset Management LLC now owns 75,379 shares of the semiconductor manufacturer's stock worth $7,744,000 after purchasing an additional 11,956 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on AMD. Deutsche Bank Aktiengesellschaft set a $200.00 price target on Advanced Micro Devices in a research report on Wednesday, August 6th. DZ Bank upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating and set a $165.00 price target for the company in a research report on Thursday, August 7th. Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target for the company in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $179.21.

Advanced Micro Devices Price Performance

AMD opened at $172.28 on Tuesday. The stock's 50-day moving average price is $145.71 and its 200 day moving average price is $118.52. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $182.50. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm has a market cap of $279.58 billion, a price-to-earnings ratio of 99.01, a PEG ratio of 2.07 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company posted $0.69 EPS. Advanced Micro Devices's revenue was up 31.7% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has approved a share repurchase 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

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.

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