Assetmark Inc. Sells 138,346 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Assetmark Inc. has reduced its holdings in Advanced Micro Devices (AMD) by 62.3%, now owning 83,607 shares valued at approximately $8.59 million.
• Several institutional investors have significantly increased their positions in AMD, with Toronto Dominion Bank increasing its stake by 443.3%, now owning over 5.46 million shares worth $660.48 million.
• Analysts have mixed views on AMD, with Citigroup raising the price target to $165.00 while Susquehanna lowered it to $135.00, reflecting varied outlooks on the stock's performance.

Assetmark Inc. lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 62.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,607 shares of the semiconductor manufacturer's stock after selling 138,346 shares during the period. Assetmark Inc.'s holdings in Advanced Micro Devices were worth $8,590,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Toronto Dominion Bank lifted its stake in shares of 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 buying an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in 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 buying an additional 2,889,739 shares during the period. Northern Trust Corp increased its holdings in 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 buying an additional 2,874,012 shares during the period. GAMMA Investing LLC increased its holdings in Advanced Micro Devices by 12,097.8% in the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after buying an additional 1,992,508 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Advanced Micro Devices by 9.9% during the 4th 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 purchasing an additional 1,929,225 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMD. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a "hold" rating and set a $140.00 price objective for the company in a research report on Thursday, July 10th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 13th. Raymond James Financial reiterated an "outperform" rating and set a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Citigroup upped their price objective on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus target price of $162.94.

Advanced Micro Devices Price Performance

Shares of AMD stock traded up $0.89 during trading hours on Thursday, reaching $180.40. The stock had a trading volume of 36,912,528 shares, compared to its average volume of 44,241,855. The stock's fifty day simple moving average is $136.04 and its 200 day simple moving average is $115.69. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $182.50. The firm has a market capitalization of $292.51 billion, a PE ratio of 132.67, a PEG ratio of 2.35 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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 8.03% and a return on equity of 8.30%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the firm posted $0.62 earnings per share. The business's revenue was up 35.9% compared to the same quarter last year. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

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.