QRG Capital Management Inc. Raises Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

QRG Capital Management Inc. lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.8% in the first quarter, HoldingsChannel.com reports. The fund owned 184,864 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,515 shares during the period. QRG Capital Management Inc.’s holdings in Advanced Micro Devices were worth $18,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of AMD. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Kozak & Associates Inc. increased its position in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at approximately $30,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. HSBC raised Advanced Micro Devices from a “reduce” rating to a “hold” rating in a research report on Tuesday, May 27th. Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday. Finally, DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.13.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction that occurred 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 transaction, 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 hyperlink. Insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Down 2.0%

AMD stock opened at $116.16 on Monday. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The business’s 50 day moving average price is $104.51 and its two-hundred day moving average price is $111.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The company has a market capitalization of $188.34 billion, a price-to-earnings ratio of 117.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding 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 generally a sign that the company’s management believes its stock is undervalued.

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.