Retirement Systems of Alabama lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 0.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 348,224 shares of the semiconductor manufacturer's stock after selling 3,128 shares during the quarter. Retirement Systems of Alabama's holdings in Advanced Micro Devices were worth $35,777,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Advanced Micro Devices in the 4th quarter valued at $29,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter worth $30,000. Summit Securities Group LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $31,000. Finally, IAG Wealth Partners LLC increased its stake in shares of Advanced Micro Devices by 74.7% during the fourth quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer's stock worth $33,000 after acquiring an additional 118 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.
Advanced Micro Devices Trading Up 6.8%
Shares of NASDAQ:AMD traded up $8.85 during trading on Tuesday, reaching $138.43. 78,243,091 shares of the stock were exchanged, compared to its average volume of 41,921,170. The firm's 50-day moving average price is $108.84 and its 200 day moving average price is $110.59. The firm has a market cap of $224.45 billion, a price-to-earnings ratio of 101.79, a price-to-earnings-growth ratio of 1.66 and a beta of 1.99. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.
Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.
Advanced Micro Devices announced that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.
Insider Buying and Selling at Advanced Micro Devices
In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on AMD. UBS Group lowered their price objective on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Seaport Res Ptn upgraded Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Piper Sandler increased their price objective on Advanced Micro Devices from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Citigroup reiterated a "neutral" rating and issued a $120.00 price target (up previously from $100.00) on shares of Advanced Micro Devices in a report on Monday, June 9th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.19.
Read Our Latest Stock Report on AMD
Advanced Micro Devices Company Profile
(
Free Report)
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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