Worldquant Millennium Advisors LLC Invests $56.28 Million in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Worldquant Millennium Advisors LLC acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 465,939 shares of the semiconductor manufacturer’s stock, valued at approximately $56,281,000.

Several other large investors also recently made changes to their positions in AMD. Norges Bank purchased a new position in shares of Advanced Micro Devices in the fourth quarter valued at $2,867,193,000. Toronto Dominion Bank boosted 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 valued at $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in shares of Advanced Micro Devices by 2,265.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp boosted its stake in shares of Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Advanced Micro Devices by 23.3% in the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Stock Down 2.1%

AMD stock opened at $114.74 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The firm’s 50-day simple moving average is $99.21 and its 200 day simple moving average is $114.52. The stock has a market cap of $186.04 billion, a PE ratio of 115.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data 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 net margin of 6.36% and a return on equity of 7.42%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter last year, the company earned $0.62 EPS. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized a stock buyback plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Melius Research set a $110.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Summit Insights upgraded shares of Advanced Micro Devices to a “hold” rating in a research note on Tuesday, February 4th. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their target price for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Finally, Dbs Bank downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.58.

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.