Independent Advisor Alliance Sells 13,254 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Independent Advisor Alliance reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 292,200 shares of the semiconductor manufacturer’s stock after selling 13,254 shares during the quarter. Advanced Micro Devices comprises 1.0% of Independent Advisor Alliance’s portfolio, making the stock its 16th biggest holding. Independent Advisor Alliance’s holdings in Advanced Micro Devices were worth $30,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Toronto Dominion Bank grew its position in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. grew its position in shares of Advanced Micro Devices by 56.4% in the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer’s stock valued at $426,000 after purchasing an additional 1,271 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer’s stock valued at $31,958,000 after purchasing an additional 29,825 shares during the last quarter. Valicenti Advisory Services Inc. grew its position in shares of Advanced Micro Devices by 4.0% in the first quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer’s stock valued at $7,893,000 after purchasing an additional 2,944 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of Advanced Micro Devices by 17.2% in the first quarter. Sound Income Strategies LLC now owns 1,728 shares of the semiconductor manufacturer’s stock valued at $178,000 after buying an additional 253 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $172.76 on Monday. The firm has a market cap of $280.36 billion, a price-to-earnings ratio of 99.29, a PEG ratio of 2.07 and a beta of 1.94. The company has a 50 day moving average of $144.55 and a 200-day moving average of $118.17. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays increased their target price on shares of Advanced Micro Devices from $130.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Evercore ISI increased their target price on shares of Advanced Micro Devices from $144.00 to $188.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Stifel Nicolaus increased their target price on shares of Advanced Micro Devices from $161.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Robert W. Baird reduced their target price on shares of 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. Finally, Sanford C. Bernstein increased their target price on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.56.

Insider Buying and Selling 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 value of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company’s stock, valued at $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.