ProShare Advisors LLC Increases Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

ProShare Advisors LLC lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 17.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,384,763 shares of the semiconductor manufacturer's stock after purchasing an additional 356,932 shares during the quarter. Advanced Micro Devices comprises about 0.7% of ProShare Advisors LLC's holdings, making the stock its 17th biggest holding. ProShare Advisors LLC owned about 0.15% of Advanced Micro Devices worth $288,056,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AMD. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $2,867,193,000. Kovitz Investment Group Partners LLC raised its holdings in Advanced Micro Devices by 2,265.5% in the fourth 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 in the last quarter. Northern Trust Corp raised its holdings in Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares in the last quarter. Van ECK Associates Corp raised its holdings in Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock valued at $1,432,538,000 after acquiring an additional 2,238,866 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Advanced Micro Devices by 70.3% in the fourth quarter. Lazard Asset Management LLC now owns 3,609,705 shares of the semiconductor manufacturer's stock valued at $436,014,000 after acquiring an additional 1,490,697 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMD. Wells Fargo & Company reduced their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Summit Insights raised shares of Advanced Micro Devices to a "hold" rating in a report on Tuesday, February 4th. Bank of America raised their target price on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Wedbush reiterated an "outperform" rating and issued a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.45.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $117.72 on Thursday. The firm's fifty day moving average price is $98.16 and its 200 day moving average price is $115.79. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market cap of $190.87 billion, a price-to-earnings ratio of 118.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data 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. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm posted $0.62 EPS. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.

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