Allianz SE Sells 9,306 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Allianz SE reduced its holdings in Advanced Micro Devices, Inc. by 12.6%, now owning 64,807 shares valued at approximately $6.66 million.
• Advanced Micro Devices announced a $6 billion stock buyback plan, indicating the board's belief that the shares are undervalued.
• The company reported a 35.9% year-over-year increase in quarterly revenue, totaling $7.44 billion, with earnings per share exceeding estimates.

Allianz SE reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,807 shares of the semiconductor manufacturer's stock after selling 9,306 shares during the quarter. Allianz SE's holdings in Advanced Micro Devices were worth $6,658,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMD. Commonwealth Equity Services LLC increased its holdings in Advanced Micro Devices by 8.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 731,966 shares of the semiconductor manufacturer's stock worth $75,202,000 after purchasing an additional 57,957 shares in the last quarter. Fairfield Financial Advisors LTD increased its holdings in Advanced Micro Devices by 14.1% during the 1st quarter. Fairfield Financial Advisors LTD now owns 4,763 shares of the semiconductor manufacturer's stock worth $489,000 after purchasing an additional 588 shares in the last quarter. Blair William & Co. IL increased its holdings in Advanced Micro Devices by 5.0% during the 1st quarter. Blair William & Co. IL now owns 267,109 shares of the semiconductor manufacturer's stock worth $27,443,000 after purchasing an additional 12,737 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in Advanced Micro Devices by 44.5% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 40,932 shares of the semiconductor manufacturer's stock worth $4,205,000 after purchasing an additional 12,600 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Advanced Micro Devices by 4.0% during the 1st quarter. Manchester Capital Management LLC now owns 10,613 shares of the semiconductor manufacturer's stock worth $1,090,000 after purchasing an additional 406 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded up $5.08 during trading on Monday, hitting $176.78. 52,313,227 shares of the company were exchanged, compared to its average volume of 56,928,328. The company has a market cap of $286.63 billion, a PE ratio of 129.99, a P/E/G ratio of 2.27 and a beta of 1.94. The stock has a 50 day moving average of $138.58 and a 200 day moving average of $116.44. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $182.50. 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 (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm's revenue was up 35.9% compared to the same quarter last year. As a group, 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 initiated a share buyback program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction 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 sale, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AMD shares. Morgan Stanley boosted their price objective on Advanced Micro Devices from $121.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Benchmark reaffirmed a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. DZ Bank lowered Advanced Micro Devices from a "buy" rating to a "sell" rating and set a $150.00 target price for the company. in a report on Wednesday, July 30th. Citigroup upped their target price on Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $162.94.

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.