Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 371,761 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,120 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Advanced Micro Devices were worth $38,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Independence Bank of Kentucky raised its holdings in Advanced Micro Devices by 5.6% in the 1st quarter. Independence Bank of Kentucky now owns 29,065 shares of the semiconductor manufacturer’s stock valued at $2,986,000 after buying an additional 1,532 shares during the period. Harrington Investments INC increased its position in shares of Advanced Micro Devices by 3.5% during the first quarter. Harrington Investments INC now owns 7,335 shares of the semiconductor manufacturer’s stock valued at $754,000 after acquiring an additional 250 shares during the last quarter. Alliance Wealth Advisors LLC raised its stake in shares of Advanced Micro Devices by 11.4% in the 1st quarter. Alliance Wealth Advisors LLC now owns 2,323 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 238 shares during the period. City State Bank raised its stake in shares of Advanced Micro Devices by 44.7% in the 1st quarter. City State Bank now owns 5,747 shares of the semiconductor manufacturer’s stock valued at $590,000 after acquiring an additional 1,775 shares during the period. Finally, First Affirmative Financial Network lifted its holdings in shares of Advanced Micro Devices by 18.2% in the 1st quarter. First Affirmative Financial Network now owns 4,809 shares of the semiconductor manufacturer’s stock worth $494,000 after acquiring an additional 739 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMD. HSBC raised Advanced Micro Devices from a “reduce” rating to a “hold” rating in a research report on Tuesday, May 27th. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Barclays increased their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Susquehanna reduced their price target on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Fifteen equities 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.58.

Advanced Micro Devices Stock Up 0.4%

Shares of NASDAQ:AMD opened at $116.19 on Friday. The firm has a 50 day simple moving average of $101.39 and a 200-day simple moving average of $112.13. 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 company has a market capitalization of $188.39 billion, a PE ratio of 117.36, a P/E/G ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly 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 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 business earned $0.62 EPS. Advanced Micro Devices’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

About Advanced Micro Devices

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.