US Asset Management LLC Trims Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

US Asset Management LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,671 shares of the semiconductor manufacturer’s stock after selling 178 shares during the period. US Asset Management LLC’s holdings in Advanced Micro Devices were worth $685,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in Advanced Micro Devices in the fourth quarter valued at $65,897,000. Enzi Wealth bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $569,000. Welch Group LLC raised its holdings in shares of Advanced Micro Devices by 6.3% during the 4th quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer’s stock valued at $6,179,000 after buying an additional 2,981 shares in the last quarter. Stonegate Investment Group LLC lifted its position in Advanced Micro Devices by 39.5% in the 4th quarter. Stonegate Investment Group LLC now owns 512,428 shares of the semiconductor manufacturer’s stock worth $61,896,000 after buying an additional 145,067 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after buying an additional 1,441,626 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 1.2%

AMD opened at $110.71 on Friday. The stock has a market cap of $179.51 billion, a PE ratio of 111.83, a PEG ratio of 1.11 and a beta of 1.97. The business has a 50 day moving average of $99.87 and a 200-day moving average of $114.29. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. 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 announced its 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 analysts’ expectations of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. Equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on AMD. Jefferies Financial Group cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $135.00 to $120.00 in a research report on Thursday, March 27th. Melius lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $160.00 to $129.00 in a report on Tuesday, January 28th. DZ Bank raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Thursday, May 8th. Wells Fargo & Company cut their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, Dbs Bank downgraded 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 assigned a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $132.58.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

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.