Sumitomo Life Insurance Co. Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sumitomo Life Insurance Co. lifted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,807 shares of the semiconductor manufacturer's stock after purchasing an additional 6,013 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Advanced Micro Devices were worth $7,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Greenline Partners LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. American Capital Advisory LLC increased its stake in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 130 shares during the last quarter. Kozak & Associates Inc. increased its stake 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 last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

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

Advanced Micro Devices Stock Up 0.2%

NASDAQ AMD traded up $0.33 during trading on Thursday, reaching $160.41. 50,400,461 shares of the company's stock were exchanged, compared to its average volume of 41,912,370. The stock has a market cap of $260.09 billion, a P/E ratio of 117.95, a price-to-earnings-growth ratio of 2.14 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The company has a 50 day moving average price of $126.58 and a two-hundred day moving average price of $113.05. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly 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 company 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%. 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 business earned $0.62 EPS. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a stock buyback plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMD shares. Melius raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research note on Monday, June 23rd. DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a research note on Thursday, May 8th. Bank of America lifted their price objective on Advanced Micro Devices from $130.00 to $175.00 in a research note on Wednesday. TD Cowen lifted their price objective on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group lifted their price objective on Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus target price of $152.58.

Advanced Micro Devices 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.