Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Successful Portfolios LLC

Successful Portfolios LLC lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,311 shares of the semiconductor manufacturer’s stock after selling 308 shares during the quarter. Successful Portfolios LLC’s holdings in Advanced Micro Devices were worth $957,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at $2,867,193,000. Toronto Dominion Bank raised its stake in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after acquiring an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock valued at $364,459,000 after acquiring an additional 2,889,739 shares during the period. Northern Trust Corp raised its stake in shares of 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 acquiring an additional 2,874,012 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 2,238,866 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 0.4%

NASDAQ AMD opened at $116.19 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company’s 50 day simple moving average is $101.39 and its 200 day simple moving average is $112.13. 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 company has a market capitalization of $188.39 billion, a P/E ratio of 117.36, a PEG ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly 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. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. Equities research analysts expect 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 approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AMD has been the topic of a number of research reports. Dbs Bank downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Raymond James reiterated an “outperform” rating and issued a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Barclays boosted their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Melius Research set a $110.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Loop Capital dropped their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Fifteen 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.58.

Insider Activity

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 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 directly owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

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.