Welch Group LLC Has $6.46 Million Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Welch Group LLC grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 24.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,616 shares of the semiconductor manufacturer's stock after purchasing an additional 12,150 shares during the period. Welch Group LLC's holdings in Advanced Micro Devices were worth $6,463,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $25,000. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $30,000. Finally, Summit Securities Group LLC bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 2.7%

AMD traded up $3.02 during trading hours on Monday, hitting $113.75. 19,808,868 shares of the company's stock were exchanged, compared to its average volume of 40,437,074. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The stock's 50-day moving average is $100.25 and its two-hundred day moving average is $112.51. The stock has a market cap of $184.43 billion, a price-to-earnings ratio of 114.91, a PEG ratio of 1.11 and a beta of 1.97. 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 (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The firm's revenue was up 35.9% on a year-over-year basis. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $120.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $132.00 price target on shares of Advanced Micro Devices in a research note on Monday, April 28th. Fifteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $132.58.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

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.