Envestnet Asset Management Inc. Sells 192,106 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Envestnet Asset Management Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 21.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 691,946 shares of the semiconductor manufacturer's stock after selling 192,106 shares during the period. Envestnet Asset Management Inc.'s holdings in Advanced Micro Devices were worth $71,091,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMD. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. American Capital Advisory LLC boosted its position in shares of Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares during the period. Kozak & Associates Inc. raised its position in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $30,000. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents 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 this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMD shares. Susquehanna decreased their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Mizuho increased their target price on shares of Advanced Micro Devices from $135.00 to $152.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Evercore ISI set a $144.00 price objective on Advanced Micro Devices and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, Melius Research raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their price target for the company from $110.00 to $175.00 in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

Advanced Micro Devices Trading Up 1.6%

Shares of AMD traded up $2.26 during trading hours on Friday, hitting $146.42. 49,944,990 shares of the stock were exchanged, compared to its average volume of 41,725,687. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $185.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The business has a 50-day moving average of $122.16 and a 200-day moving average of $112.11. The firm has a market capitalization of $237.41 billion, a P/E ratio of 50.14, a price-to-earnings-growth ratio of 1.95 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 analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion during 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 business's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board 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 repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.