Thornburg Investment Management Inc. Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Thornburg Investment Management Inc. lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 186,834 shares of the semiconductor manufacturer's stock after purchasing an additional 3,338 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Advanced Micro Devices were worth $22,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Burney Co. purchased a new stake in Advanced Micro Devices during the fourth quarter worth about $357,000. Hennion & Walsh Asset Management Inc. increased its stake in Advanced Micro Devices by 23.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,335 shares of the semiconductor manufacturer's stock worth $1,248,000 after buying an additional 1,942 shares during the period. Carnegie Investment Counsel lifted its holdings in Advanced Micro Devices by 3.6% during the 4th quarter. Carnegie Investment Counsel now owns 41,618 shares of the semiconductor manufacturer's stock worth $5,027,000 after buying an additional 1,449 shares in the last quarter. Empirical Asset Management LLC boosted its position in Advanced Micro Devices by 86.7% in the 4th quarter. Empirical Asset Management LLC now owns 14,687 shares of the semiconductor manufacturer's stock valued at $1,774,000 after buying an additional 6,820 shares during the period. Finally, Goldstone Financial Group LLC grew its stake in shares of Advanced Micro Devices by 29.9% in the fourth quarter. Goldstone Financial Group LLC now owns 1,797 shares of the semiconductor manufacturer's stock worth $217,000 after acquiring an additional 414 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Summit Insights upgraded Advanced Micro Devices to a "hold" rating in a report on Tuesday, February 4th. Melius Research set a $110.00 price objective on Advanced Micro Devices in a research note on Wednesday, May 7th. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Truist Financial set a $130.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company decreased their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus price target of $132.10.

Advanced Micro Devices Stock Up 1.9%

AMD stock opened at $117.17 on Friday. The stock has a market capitalization of $189.98 billion, a PE ratio of 118.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a fifty day moving average of $98.94 and a 200-day moving average of $114.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm 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%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the 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 transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Company 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.

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