Salem Investment Counselors Inc. Has $26.95 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Salem Investment Counselors Inc. raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 51.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 262,344 shares of the semiconductor manufacturer's stock after buying an additional 88,721 shares during the quarter. Advanced Micro Devices accounts for about 0.9% of Salem Investment Counselors Inc.'s portfolio, making the stock its 23rd largest position. Salem Investment Counselors Inc.'s holdings in Advanced Micro Devices were worth $26,953,000 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. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after buying an additional 835,413 shares during the period. Fisher Asset Management LLC increased its position in shares of Advanced Micro Devices by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after acquiring an additional 290,784 shares in the last quarter. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Advanced Micro Devices by 9.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock valued at $2,585,079,000 after acquiring an additional 1,929,225 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded down $2.34 during midday trading on Friday, hitting $116.16. 39,620,655 shares of the company were exchanged, compared to its average volume of 41,413,918. The firm has a market capitalization of $188.34 billion, a P/E ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The firm's 50 day moving average price is $104.51 and its two-hundred day moving average price is $111.33. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The business 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 6.36% and a return on equity of 7.42%. Advanced Micro Devices's revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has initiated a share buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in 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 generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Mizuho boosted their price target on Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday. DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price target for the company in a research report on Thursday, May 8th. HSBC raised shares of Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Finally, Wells Fargo & Company cut their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $134.13.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business'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 completion of the sale, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

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.