Verity Asset Management Inc. Grows Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Verity Asset Management Inc. grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 99.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,332 shares of the semiconductor manufacturer's stock after buying an additional 10,143 shares during the quarter. Advanced Micro Devices accounts for 0.8% of Verity Asset Management Inc.'s holdings, making the stock its 26th largest holding. Verity Asset Management Inc.'s holdings in Advanced Micro Devices were worth $2,089,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $65,897,000. Vanguard Group Inc. increased its holdings in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the period. Toronto Dominion Bank raised its position in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. lifted its stake in shares of Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after purchasing an additional 1,271 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its stake in shares of Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after purchasing an additional 29,825 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction on 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. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $143.81 on Monday. 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 firm has a market cap of $233.17 billion, a P/E ratio of 105.74, a P/E/G ratio of 1.86 and a beta of 1.99. The firm's 50 day moving average price is $113.06 and its 200-day moving average price is $110.94. 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 released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. 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 firm earned $0.62 earnings per share. The firm's revenue was up 35.9% compared to the same quarter last year. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMD shares. Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. DZ Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective on the stock in a research report on Thursday, May 8th. Melius raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research report on Monday, June 23rd. Wedbush restated an "outperform" rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Citigroup reaffirmed a "neutral" rating and set a $120.00 price target (up from $100.00) on shares of Advanced Micro Devices in a research report on Monday, June 9th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.19.

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.

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