VCI Wealth Management LLC Makes New Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

VCI Wealth Management LLC purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,504 shares of the semiconductor manufacturer's stock, valued at approximately $565,000.

Several other institutional investors have also bought and sold shares of the company. United Bank raised its holdings in Advanced Micro Devices by 63.4% during the 1st quarter. United Bank now owns 10,863 shares of the semiconductor manufacturer's stock valued at $1,116,000 after acquiring an additional 4,213 shares during the period. PFG Advisors grew its holdings in shares of Advanced Micro Devices by 17.3% during the 1st quarter. PFG Advisors now owns 10,514 shares of the semiconductor manufacturer's stock valued at $1,080,000 after purchasing an additional 1,551 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of Advanced Micro Devices by 7.8% during the 1st quarter. Ignite Planners LLC now owns 3,002 shares of the semiconductor manufacturer's stock valued at $290,000 after purchasing an additional 218 shares during the last quarter. Obermeyer Wealth Partners bought a new position in shares of Advanced Micro Devices during the 1st quarter valued at $217,000. Finally, Winch Advisory Services LLC grew its holdings in Advanced Micro Devices by 75.0% in the 1st quarter. Winch Advisory Services LLC now owns 4,160 shares of the semiconductor manufacturer's stock worth $427,000 after acquiring an additional 1,783 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the subject of several research analyst reports. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the stock a "buy" rating in a research report on Friday, June 13th. Evercore ISI set a $144.00 target price on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a report on Friday, June 13th. Citigroup lifted their target price on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a report on Monday, June 9th. Finally, Barclays lifted their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $154.68.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This trade represents a 1.04% 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 insiders.

Advanced Micro Devices Stock Down 1.9%

Advanced Micro Devices stock traded down $3.01 during midday trading on Tuesday, hitting $153.99. 26,914,224 shares of the company's stock were exchanged, compared to its average volume of 41,744,207. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $174.05. The firm has a 50-day moving average of $127.67 and a two-hundred day moving average of $113.20. The company has a market cap of $249.68 billion, a PE ratio of 113.17, a P/E/G ratio of 2.08 and a beta of 2.05.

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 the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the prior year, the business earned $0.62 EPS. The firm's quarterly revenue was up 35.9% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a share repurchase program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.

Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.