University of Texas Texas AM Investment Management Co. Purchases New Shares in Advanced Micro Devices, Inc. (NASDAQ:AMD)

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,386 shares of the semiconductor manufacturer's stock, valued at approximately $1,134,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices during the fourth quarter worth about $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $30,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at approximately $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 1.2%

NASDAQ AMD opened at $110.71 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The business has a 50 day moving average price of $99.87 and a two-hundred day moving average price of $114.29. The stock has a market cap of $179.51 billion, a PE ratio of 111.83, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating 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%. The business's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, sell-side analysts predict 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 repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire 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.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company'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 owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group decreased their target price on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Argus set a $160.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, February 6th. DZ Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price target on the stock in a report on Thursday, May 8th. Wells Fargo & Company lowered their price target 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. Finally, Morgan Stanley cut their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $132.58.

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.

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