Advanced Micro Devices, Inc. $AMD Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Advanced Micro Devices, Inc. by 3.9% during the first quarter, now holding about 1.02% of the company worth approximately $1.69 billion.
• Goldman Sachs increased its holdings in Advanced Micro Devices by 169.7%, acquiring an additional 6.2 million shares valued at over $1 billion.
• Advanced Micro Devices reported earnings of $0.48 EPS, missing analysts' expectations, but had a 31.7% year-over-year revenue growth, bringing in $7.69 billion for the quarter.

Northern Trust Corp lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,484,474 shares of the semiconductor manufacturer's stock after selling 671,048 shares during the period. Northern Trust Corp owned about 1.02% of Advanced Micro Devices worth $1,693,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Advanced Micro Devices by 169.7% during the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock worth $1,012,538,000 after purchasing an additional 6,200,850 shares during the period. Toronto Dominion Bank increased its position in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Nuveen LLC acquired a new position in Advanced Micro Devices during the first quarter valued at approximately $436,746,000. 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 valued at $364,459,000 after acquiring an additional 2,889,739 shares during the period. Finally, Deutsche Bank AG boosted its position in Advanced Micro Devices by 27.9% during the 1st quarter. Deutsche Bank AG now owns 10,175,532 shares of the semiconductor manufacturer's stock worth $1,045,434,000 after purchasing an additional 2,221,905 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $177.51 on Monday. The firm's 50 day moving average is $150.71 and its 200-day moving average is $120.29. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $186.65. The company has a market capitalization of $288.07 billion, a PE ratio of 102.02, a price-to-earnings-growth ratio of 2.10 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The company's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. DZ Bank upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating and set a $165.00 target price for the company in a research note on Thursday, August 7th. Wedbush reiterated a "cautious" rating on shares of Advanced Micro Devices in a research note on Saturday, August 9th. Piper Sandler upped their price objective on Advanced Micro Devices from $140.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Erste Group Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Hsbc Global Res raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $180.12.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Darren Grasby sold 10,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the transaction, the executive vice president owned 125,505 shares in the company, valued at approximately $21,738,721.05. The trade was a 7.38% decrease in their position. The disclosure for this sale can be found here. 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.

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