Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,168 shares of the semiconductor manufacturer's stock after selling 5,509 shares during the period. Advanced Micro Devices accounts for approximately 1.6% of Canvas Wealth Advisors LLC's investment portfolio, making the stock its 19th biggest position. Canvas Wealth Advisors LLC's holdings in Advanced Micro Devices were worth $6,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMD. Vanguard Group Inc. boosted its position 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after purchasing an additional 835,413 shares during the last quarter. Fisher Asset Management LLC lifted its position in 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 buying an additional 290,784 shares in the last quarter. Norges Bank purchased a new position in Advanced Micro Devices during the fourth quarter worth approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 buying an additional 1,929,225 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMD shares. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Robert W. Baird reduced their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Raymond James Financial reiterated an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Loop Capital decreased their price target on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average target price of $138.19.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $143.68 on Friday. The stock's 50-day simple moving average is $111.93 and its 200-day simple moving average is $111.10. The firm has a market capitalization of $232.96 billion, a PE ratio of 105.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.99. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 8.03% and a return on equity of 8.30%. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. As a group, equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Insiders Place Their Bets

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

About Advanced Micro Devices

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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