Avanza Fonder AB Reduces Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avanza Fonder AB trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 13.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,176 shares of the semiconductor manufacturer’s stock after selling 24,316 shares during the period. Advanced Micro Devices comprises approximately 0.5% of Avanza Fonder AB’s holdings, making the stock its 26th biggest holding. Avanza Fonder AB’s holdings in Advanced Micro Devices were worth $16,183,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMD. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $121.73 on Tuesday. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market capitalization of $197.37 billion, a P/E ratio of 122.96, a P/E/G ratio of 1.11 and a beta of 1.99. The company’s fifty day moving average price is $101.76 and its two-hundred day moving average price is $111.66.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for 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%. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. On average, research analysts anticipate 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 repurchase program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have commented on AMD. Robert W. Baird lowered their target price on shares of 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. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Citigroup boosted their price objective on shares of Advanced Micro Devices from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Barclays boosted their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.23.

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.