Light Street Capital Management LLC Reduces Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Light Street Capital Management LLC trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,739 shares of the semiconductor manufacturer's stock after selling 19,719 shares during the quarter. Advanced Micro Devices comprises 4.7% of Light Street Capital Management LLC's portfolio, making the stock its 4th largest holding. Light Street Capital Management LLC's holdings in Advanced Micro Devices were worth $25,697,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Advanced Micro Devices during the 4th quarter valued at $2,867,193,000. 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 worth $364,459,000 after buying an additional 2,889,739 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Advanced Micro Devices by 20.1% in 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 period. Van ECK Associates Corp boosted its stake in Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock valued at $1,432,538,000 after buying an additional 2,238,866 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMD. Wolfe Research downgraded shares of Advanced Micro Devices from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 16th. Cantor Fitzgerald reissued an "overweight" rating and set a $120.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Sanford C. Bernstein reduced their target price on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $131.13.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Up 4.0%

NASDAQ:AMD traded up $4.34 during mid-day trading on Tuesday, reaching $112.46. The stock had a trading volume of 55,407,263 shares, compared to its average volume of 42,693,632. The stock has a market cap of $182.34 billion, a P/E ratio of 113.60, a PEG ratio of 1.11 and a beta of 1.97. The business's 50 day moving average is $97.81 and its 200 day moving average is $115.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the business posted $0.62 EPS. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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.