Wellington Wealth Strategies LLC. Sells 6,192 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Wellington Wealth Strategies LLC. trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 69.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,672 shares of the semiconductor manufacturer’s stock after selling 6,192 shares during the quarter. Wellington Wealth Strategies LLC.’s holdings in Advanced Micro Devices were worth $299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $2,867,193,000. Toronto Dominion Bank raised its stake in Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Advanced Micro Devices by 2,265.5% in 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 grew 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 in the last quarter. Finally, Van ECK Associates Corp raised its position 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 buying an additional 2,238,866 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMD. Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Thursday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Susquehanna reduced their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. Finally, Dbs Bank lowered shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.58.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $114.74 on Tuesday. The stock has a market cap of $186.04 billion, a price-to-earnings ratio of 115.90, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The company’s fifty day moving average is $99.21 and its 200 day moving average is $114.52. 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 (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm’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 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 Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by company 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.