Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 426,299 shares of the semiconductor manufacturer's stock after selling 17,251 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Advanced Micro Devices were worth $43,798,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMD. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock valued at $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Advanced Micro Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after acquiring an additional 835,413 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Advanced Micro Devices by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after purchasing an additional 290,784 shares in the last quarter. Norges Bank acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Advanced Micro Devices by 9.9% during the fourth 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. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMD shares. Wells Fargo & Company reduced their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. TD Cowen boosted their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays boosted their price target on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Raymond James Financial reiterated an "outperform" rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $132.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $134.61.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Stock Up 1.1%

NASDAQ AMD opened at $128.24 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The company's 50 day simple moving average is $108.14 and its 200 day simple moving average is $110.87. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a market capitalization of $207.93 billion, a P/E ratio of 94.29, a PEG ratio of 1.66 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The firm's revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. Equities research analysts expect 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 authorized a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.

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