Exchange Traded Concepts LLC Acquires 4,477 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Exchange Traded Concepts LLC lifted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 87,930 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,477 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Advanced Micro Devices were worth $9,034,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $65,897,000. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,441,626 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $34,366,000. bLong Financial LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $1,924,000. Finally, Toronto Dominion Bank increased its stake in shares of 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 worth $660,475,000 after buying an additional 4,461,609 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $116.16 on Monday. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The firm has a market capitalization of $188.34 billion, a P/E ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $104.51 and a 200-day moving average price of $111.15.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the 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 completion of the sale, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The transaction 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.

Analysts Set New Price Targets

AMD has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday. Barclays boosted their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their price objective for the company from $135.00 to $120.00 in a research report on Thursday, March 27th. UBS Group reduced their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Mizuho boosted their target price on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.13.

Advanced Micro Devices 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.