Harvest Fund Management Co. Ltd Sells 88,859 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Harvest Fund Management Co. Ltd lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 40.9% during the first quarter, Holdings Channel reports. The fund owned 128,489 shares of the semiconductor manufacturer’s stock after selling 88,859 shares during the period. Advanced Micro Devices makes up 0.7% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 28th largest holding. Harvest Fund Management Co. Ltd’s holdings in Advanced Micro Devices were worth $13,200,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Advanced Micro Devices by 178.2% during the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after buying an additional 29,438 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after purchasing an additional 234 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock worth $31,958,000 after acquiring an additional 29,825 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Advanced Micro Devices by 5.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 11,066 shares of the semiconductor manufacturer’s stock valued at $1,337,000 after acquiring an additional 575 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth $31,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 4.3%

AMD stock opened at $173.66 on Tuesday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The business has a 50 day simple moving average of $133.42 and a two-hundred day simple moving average of $114.81. The company has a market capitalization of $281.57 billion, a price-to-earnings ratio of 127.69, a PEG ratio of 2.20 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD) last posted 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. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the company earned $0.62 EPS. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

AMD has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Susquehanna decreased their price target on Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group lifted their price objective on Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. Finally, DZ Bank raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $156.61.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.