Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock Holdings Lessened by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 46.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 47,040 shares of the semiconductor manufacturer’s stock after selling 40,366 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Advanced Micro Devices were worth $4,833,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after purchasing an additional 835,413 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Advanced Micro Devices by 9.9% in 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 valued at $2,585,079,000 after purchasing an additional 1,929,225 shares during the last quarter. Northern Trust Corp lifted its position in Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the last quarter. Invesco Ltd. lifted its position in Advanced Micro Devices by 7.2% in the 4th quarter. Invesco Ltd. now owns 11,368,317 shares of the semiconductor manufacturer’s stock valued at $1,373,179,000 after purchasing an additional 765,447 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Advanced Micro Devices by 0.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 8,614,342 shares of the semiconductor manufacturer’s stock valued at $885,037,000 after purchasing an additional 73,657 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Performance

AMD stock opened at $166.47 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The stock has a market cap of $269.91 billion, a P/E ratio of 122.40, a P/E/G ratio of 2.14 and a beta of 2.05. The firm has a 50 day simple moving average of $132.24 and a 200 day simple moving average of $114.51. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $174.05.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a share 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have commented on AMD. Susquehanna lowered their target price on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus reissued a “buy” rating and set a $132.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Benchmark reissued a “buy” rating and set a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Dbs Bank cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Hsbc Global Res raised shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.68.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Advanced Micro Devices Company 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.