Avaii Wealth Management LLC Sells 28,656 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Avaii Wealth Management LLC reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 92.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,304 shares of the semiconductor manufacturer’s stock after selling 28,656 shares during the quarter. Avaii Wealth Management LLC’s holdings in Advanced Micro Devices were worth $237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMD. Vanguard Group Inc. lifted its holdings in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after acquiring an additional 835,413 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Advanced Micro Devices by 1.2% during 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 acquiring an additional 290,784 shares during the period. Norges Bank acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Advanced Micro Devices by 9.9% in the fourth 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 valued at $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.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $116.16 on Friday. The firm has a market capitalization of $188.34 billion, a P/E ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The business has a 50-day moving average of $104.51 and a 200-day moving average of $111.50. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its 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 return on equity of 7.42% and a net margin of 6.36%. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMD shares. Robert W. Baird lowered their target price on 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. DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Thursday, May 8th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday. Benchmark restated a “buy” rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday. Finally, Citigroup raised their target price on Advanced Micro Devices from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, June 9th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.13.

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.