Sendero Wealth Management LLC Acquires 4,661 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sendero Wealth Management LLC boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 31,215 shares of the semiconductor manufacturer’s stock after buying an additional 4,661 shares during the quarter. Sendero Wealth Management LLC’s holdings in Advanced Micro Devices were worth $3,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of 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 valued at $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Geode Capital Management LLC increased its holdings in Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after purchasing an additional 835,413 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after buying an additional 290,784 shares during the period. Norges Bank bought a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Advanced Micro Devices by 9.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock worth $2,585,079,000 after buying an additional 1,929,225 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $117.31 on Wednesday. The company has a market capitalization of $190.21 billion, a PE ratio of 118.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a 50-day simple moving average of $100.55 and a 200 day simple moving average of $112.41.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Advanced Micro Devices’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business’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 value of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMD. Loop Capital dropped their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Argus set a $160.00 price target on shares of Advanced Micro Devices in a research note on Thursday, February 6th. Mizuho increased their price objective on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. TD Cowen boosted their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Dbs Bank downgraded Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.58.

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.