Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 18.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 913,140 shares of the semiconductor manufacturer’s stock after buying an additional 142,400 shares during the quarter. Advanced Micro Devices accounts for about 0.9% of State of Michigan Retirement System’s investment portfolio, making the stock its 17th largest holding. State of Michigan Retirement System owned about 0.06% of Advanced Micro Devices worth $164,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Woodmont Investment Counsel LLC acquired a new stake in Advanced Micro Devices during the first quarter valued at approximately $286,000. Synergy Asset Management LLC raised its position in shares of Advanced Micro Devices by 8.1% during the 1st quarter. Synergy Asset Management LLC now owns 26,697 shares of the semiconductor manufacturer’s stock valued at $4,819,000 after acquiring an additional 1,997 shares in the last quarter. Steele Capital Management Inc. bought a new position in Advanced Micro Devices during the first quarter worth $207,000. WESPAC Advisors SoCal LLC bought a new position in Advanced Micro Devices during the first quarter worth $299,000. Finally, AlphaMark Advisors LLC boosted its holdings in Advanced Micro Devices by 63.2% in the first quarter. AlphaMark Advisors LLC now owns 279 shares of the semiconductor manufacturer’s stock worth $50,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.65% of the company’s stock.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded up $6.62 during midday trading on Tuesday, hitting $164.31. The company’s stock had a trading volume of 57,741,959 shares, compared to its average volume of 64,969,270. Advanced Micro Devices, Inc. has a 12 month low of $93.11 and a 12 month high of $227.30. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $265.58 billion, a PE ratio of 241.05, a price-to-earnings-growth ratio of 1.87 and a beta of 1.69. The stock’s 50-day moving average price is $159.30 and its 200-day moving average price is $165.38.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. Analysts anticipate that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMD. Cantor Fitzgerald reduced their price target on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Benchmark cut their target price on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Jefferies Financial Group started coverage on Advanced Micro Devices in a report on Monday, May 13th. They set a “buy” rating and a $190.00 target price for the company. Barclays boosted their price objective on Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Finally, Citigroup dropped their target price on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.83.

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.