Woodmont Investment Counsel LLC Purchases New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Woodmont Investment Counsel LLC bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,005 shares of the semiconductor manufacturer's stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in Advanced Micro Devices during the fourth quarter valued at about $2,867,193,000. Toronto Dominion Bank boosted its stake in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after acquiring an additional 2,889,739 shares during the period. Northern Trust Corp increased its stake in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Advanced Micro Devices by 12,097.8% during the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after purchasing an additional 1,992,508 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

AMD stock traded up $1.34 during mid-day trading on Monday, hitting $129.58. 64,283,573 shares of the stock were exchanged, compared to its average volume of 41,774,894. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The stock has a market capitalization of $210.10 billion, a price-to-earnings ratio of 95.28, a PEG ratio of 1.66 and a beta of 1.99. The business has a fifty day moving average price of $108.14 and a 200 day moving average price of $110.66. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28.

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 return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMD. Raymond James Financial reiterated an "outperform" rating and issued a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. HSBC upgraded Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Bank of America upped their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. UBS Group decreased their price objective on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Wedbush restated an "outperform" rating and issued a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Thirteen investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $138.19.

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.