Meridiem Capital Partners LP Invests $8.40 Million in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Meridiem Capital Partners LP bought a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 69,527 shares of the semiconductor manufacturer's stock, valued at approximately $8,398,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth $65,897,000. Enzi Wealth acquired a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $569,000. Welch Group LLC boosted its position in shares of Advanced Micro Devices by 6.3% during the 4th quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer's stock valued at $6,179,000 after purchasing an additional 2,981 shares in the last quarter. Stonegate Investment Group LLC raised its position in shares of Advanced Micro Devices by 39.5% during the fourth quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer's stock worth $61,896,000 after purchasing an additional 145,067 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 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 worth $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

NASDAQ AMD traded down $2.73 during midday trading on Thursday, hitting $114.99. The company had a trading volume of 43,711,340 shares, compared to its average volume of 42,915,469. The company has a market capitalization of $186.45 billion, a PE ratio of 116.15, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $98.16 and a 200-day moving average price of $115.79.

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

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

Wall Street Analyst Weigh In

AMD has been the topic of a number of recent research reports. Roth Capital set a $140.00 target price on Advanced Micro Devices in a research note on Wednesday, February 5th. Wolfe Research downgraded Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 16th. Bank of America upped their price objective on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Finally, Loop Capital lowered their price target on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.45.

Insider Activity

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 value of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company's stock.

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.