Envestnet Asset Management Inc. Has $71.09 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Envestnet Asset Management Inc. decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 21.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 691,946 shares of the semiconductor manufacturer’s stock after selling 192,106 shares during the period. Envestnet Asset Management Inc.’s holdings in Advanced Micro Devices were worth $71,091,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Advanced Micro Devices during the 4th quarter valued at about $2,867,193,000. Toronto Dominion Bank lifted its position 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 valued at $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC lifted its position in Advanced Micro Devices by 2,265.5% during the 4th 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 increased its stake in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Advanced Micro Devices by 12,097.8% in the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer’s stock valued at $206,402,000 after acquiring an additional 1,992,508 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AMD. KeyCorp cut Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 8th. The Goldman Sachs Group raised Advanced Micro Devices to a “hold” rating and set a $140.00 price target for the company in a research note on Thursday. Robert W. Baird lowered their price target on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Finally, Melius Research raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and upped their price target for the company from $110.00 to $175.00 in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Advanced Micro Devices Price Performance

Shares of AMD opened at $146.42 on Friday. The stock has a market capitalization of $237.41 billion, a P/E ratio of 107.66, a P/E/G ratio of 1.86 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $186.99. The company has a 50 day moving average of $122.16 and a 200-day moving average of $112.20.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating 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 return on equity of 8.30% and a net margin of 8.03%. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, equities research analysts forecast 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 initiated 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 buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.