Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,768 shares of the semiconductor manufacturer’s stock after selling 450 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Advanced Micro Devices were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $2,867,193,000. Toronto Dominion Bank raised its stake in shares of 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 worth $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Advanced Micro Devices by 2,265.5% during 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 last quarter. Northern Trust Corp lifted its holdings in shares of Advanced Micro Devices by 20.1% during the fourth 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 period. Finally, Van ECK Associates Corp grew its position in Advanced Micro Devices by 23.3% in 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 buying an additional 2,238,866 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the 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 transaction, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Trading Up 4.8%

Shares of AMD stock opened at $121.73 on Tuesday. The company has a market capitalization of $197.37 billion, a price-to-earnings ratio of 122.96, a PEG ratio of 1.11 and a beta of 1.99. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $101.76 and a 200 day moving average price of $111.66. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Research analysts forecast 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 approved a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

AMD has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective 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. Evercore ISI dropped their price target on shares of Advanced Micro Devices from $147.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Bank of America increased their price target on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.23.

Advanced Micro Devices 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.