Woodline Partners LP Has $56.03 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Woodline Partners LP lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1,134.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,829 shares of the semiconductor manufacturer's stock after buying an additional 426,257 shares during the quarter. Woodline Partners LP's holdings in Advanced Micro Devices were worth $56,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the 4th quarter valued at $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter worth about $29,000. Summit Securities Group LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter worth about $31,000. Finally, IAG Wealth Partners LLC lifted its holdings in shares of Advanced Micro Devices by 74.7% during the 4th quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer's stock worth $33,000 after acquiring an additional 118 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $114.74 on Tuesday. The company has a market capitalization of $186.04 billion, a price-to-earnings ratio of 115.90, a P/E/G ratio of 1.11 and a beta of 1.97. The firm's 50 day simple moving average is $99.21 and its 200 day simple moving average is $114.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for 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%. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has initiated a share buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the subject of a number of analyst reports. Citigroup reaffirmed a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. Melius downgraded shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $160.00 to $129.00 in a report on Tuesday, January 28th. UBS Group reduced their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. DZ Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a report on Thursday, May 8th. Finally, Stifel Nicolaus set a $132.00 price objective on shares of Advanced Micro Devices in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $132.58.

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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