Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by ING Groep NV

ING Groep NV trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 60.2% in the first quarter, Holdings Channel reports. The firm owned 272,547 shares of the semiconductor manufacturer’s stock after selling 412,102 shares during the quarter. ING Groep NV’s holdings in Advanced Micro Devices were worth $28,001,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 worth $2,585,079,000 after acquiring an additional 1,929,225 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Advanced Micro Devices by 7.2% during the fourth quarter. Invesco Ltd. now owns 11,368,317 shares of the semiconductor manufacturer’s stock valued at $1,373,179,000 after buying an additional 765,447 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Advanced Micro Devices by 0.9% during the first quarter. Assenagon Asset Management S.A. now owns 8,614,342 shares of the semiconductor manufacturer’s stock valued at $885,037,000 after buying an additional 73,657 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Advanced Micro Devices by 11.2% during the fourth quarter. Deutsche Bank AG now owns 7,953,627 shares of the semiconductor manufacturer’s stock valued at $960,719,000 after buying an additional 799,876 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business’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 owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Down 2.6%

Advanced Micro Devices stock opened at $171.70 on Monday. The firm has a market cap of $278.39 billion, a price-to-earnings ratio of 126.25, a P/E/G ratio of 2.27 and a beta of 1.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50. The firm has a fifty day moving average price of $138.58 and a two-hundred day moving average price of $116.44.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMD. Erste Group Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Citigroup lifted their price target on Advanced Micro Devices from $145.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Loop Capital lowered their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.94.

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.