Advanced Micro Devices, Inc. (NASDAQ:AMD) Position Trimmed by Financial Avengers Inc.

Financial Avengers Inc. reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,208 shares of the semiconductor manufacturer’s stock after selling 461 shares during the quarter. Advanced Micro Devices comprises approximately 0.3% of Financial Avengers Inc.’s portfolio, making the stock its 27th largest holding. Financial Avengers Inc.’s holdings in Advanced Micro Devices were worth $629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $2,867,193,000. Toronto Dominion Bank boosted its holdings in Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after acquiring an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC increased 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 worth $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp lifted its position in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Advanced Micro Devices by 23.3% during the 4th 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. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 1.1%

Shares of NASDAQ AMD opened at $113.51 on Wednesday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The firm’s 50-day simple moving average is $99.52 and its 200 day simple moving average is $114.51. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market cap of $184.05 billion, a price-to-earnings ratio of 114.66, 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 results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $0.62 earnings per share. Advanced Micro Devices’s revenue was up 35.9% compared to the same quarter last year. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMD shares. KeyCorp cut Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Citigroup restated a “neutral” rating on shares of Advanced Micro Devices in a research report on Wednesday, May 14th. Dbs Bank lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Barclays lifted their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Finally, TD Cowen boosted their price target on Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.58.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

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.