Neo Ivy Capital Management Makes New $4.22 Million Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Neo Ivy Capital Management purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 34,899 shares of the semiconductor manufacturer’s stock, valued at approximately $4,215,000. Advanced Micro Devices makes up about 0.8% of Neo Ivy Capital Management’s holdings, making the stock its 19th largest position.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Advanced Micro Devices by 2.4% during 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 purchasing an additional 835,413 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Advanced Micro Devices by 1.2% during 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 purchasing an additional 290,784 shares during the last quarter. Norges Bank purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth $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% during 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 purchasing an additional 1,929,225 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMD. Loop Capital dropped their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Melius Research set a $110.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Susquehanna dropped their price target on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Roth Capital set a $140.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Finally, Evercore ISI dropped their price target on shares of Advanced Micro Devices from $147.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.58.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $110.71 on Friday. The company’s 50 day simple moving average is $99.87 and its 200-day simple moving average is $114.29. The company has a market capitalization of $179.51 billion, a price-to-earnings ratio of 111.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. As a group, equities research analysts expect 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 authorized a stock repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.