Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,839 shares of the semiconductor manufacturer's stock after purchasing an additional 18,780 shares during the quarter. State of Alaska Department of Revenue's holdings in Advanced Micro Devices were worth $20,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the fourth quarter valued at $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. Kozak & Associates Inc. grew its holdings in Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after acquiring an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at approximately $30,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on AMD. HSBC upgraded Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research report on Tuesday, May 27th. TD Cowen increased their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Loop Capital cut their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Sanford C. Bernstein lowered their target price on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a research report on Thursday, May 8th. Fifteen equities research 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 stock. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.61.

Insider Buying and Selling

In related 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 sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded down $0.31 during midday trading on Wednesday, hitting $126.79. The company had a trading volume of 49,442,387 shares, compared to its average volume of 41,851,497. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The stock has a market cap of $205.58 billion, a price-to-earnings ratio of 93.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The business's 50-day simple moving average is $106.08 and its 200-day simple moving average is $111.19.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 8.30% and a net margin of 8.03%. The company's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are 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.