Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Purchased by Easterly Investment Partners LLC

Easterly Investment Partners LLC increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 99.9% during the first quarter, Holdings Channel reports. The fund owned 27,010 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,500 shares during the quarter. Easterly Investment Partners LLC’s holdings in Advanced Micro Devices were worth $2,775,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in Advanced Micro Devices during the 4th quarter worth $65,897,000. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.0% during the 4th 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. Toronto Dominion Bank increased its stake in Advanced Micro Devices by 443.3% during the 4th 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. Nicolet Bankshares Inc. increased its stake in Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer’s stock worth $426,000 after buying an additional 1,271 shares during the period. Finally, Bank Pictet & Cie Europe AG increased its stake in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock worth $31,958,000 after buying an additional 29,825 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $160.08 on Thursday. The company’s 50 day moving average price is $125.41 and its 200 day moving average price is $112.79. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $174.05. The company has a market capitalization of $259.55 billion, a PE ratio of 117.71, a PEG ratio of 2.08 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.

Advanced Micro Devices (NASDAQ:AMD) last posted its 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. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. Research analysts expect 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 authorized a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMD. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the stock a “buy” rating in a research note on Friday, June 13th. Benchmark reissued a “buy” rating and set a $170.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Robert W. Baird decreased their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Sanford C. Bernstein reissued a “reduce” rating on shares of Advanced Micro Devices in a report on Tuesday, July 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $152.58.

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.