Strategic Investment Advisors MI Raises Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Strategic Investment Advisors MI raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,960 shares of the semiconductor manufacturer’s stock after purchasing an additional 150 shares during the period. Strategic Investment Advisors MI’s holdings in Advanced Micro Devices were worth $201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after buying an additional 1,441,626 shares during the period. Geode Capital Management LLC raised its holdings in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after buying an additional 835,413 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after buying an additional 290,784 shares during the period. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock worth $2,585,079,000 after buying an additional 1,929,225 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction 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. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Up 3.6%

Shares of AMD stock opened at $143.40 on Thursday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The stock’s fifty day moving average price is $110.81 and its 200 day moving average price is $111.01. 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 company has a market cap of $232.51 billion, a price-to-earnings ratio of 105.44, a price-to-earnings-growth ratio of 1.79 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share 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 firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the business earned $0.62 EPS. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a share repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMD. DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Thursday, May 8th. UBS Group dropped their price objective on Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. KeyCorp downgraded Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 8th. Dbs Bank downgraded Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a “buy” rating in a report on Friday, June 13th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus 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.