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GKV Capital Management Co. Inc. Sells 39,347 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

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Key Points

  • GKV Capital Management Co. Inc. significantly reduced its stake in Advanced Micro Devices by 97.2%, selling 39,347 shares and retaining 1,154 shares valued at $119,000.
  • Multiple hedge funds have changed their positions in AMD, with recent acquisitions by Greenline Partners LLC and Mpwm Advisory Solutions LLC, reflecting increased institutional interest in the company.
  • AMD's Q2 earnings report showed a decline in EPS to $0.48, missing analyst estimates, but revenue spiked 31.7% to $7.69 billion compared to the same quarter last year.
  • Looking to export and analyze Advanced Micro Devices data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

GKV Capital Management Co. Inc. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 97.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,154 shares of the semiconductor manufacturer's stock after selling 39,347 shares during the period. GKV Capital Management Co. Inc.'s holdings in Advanced Micro Devices were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in shares of Advanced Micro Devices by 169.7% in the first quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock valued at $1,012,538,000 after purchasing an additional 6,200,850 shares during the period. Toronto Dominion Bank boosted its holdings in Advanced Micro Devices by 443.3% during the fourth 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 in the last quarter. Nuveen LLC bought a new stake in Advanced Micro Devices during the first quarter worth approximately $436,746,000. Kovitz Investment Group Partners LLC boosted its holdings in Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after buying an additional 2,889,739 shares in the last quarter. Finally, Northern Trust Corp boosted its stake 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 worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

Shares of AMD stock traded up $9.47 during trading hours on Wednesday, reaching $184.42. 108,009,213 shares of the company were exchanged, compared to its average volume of 67,074,880. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $186.65. The stock's fifty day moving average is $148.18 and its two-hundred day moving average is $119.36. The company has a market cap of $299.28 billion, a price-to-earnings ratio of 105.99, a P/E/G ratio of 2.07 and a beta of 1.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.81.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Advanced Micro Devices's revenue for the quarter was up 31.7% on a year-over-year basis. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total value of $1,732,100.00. Following the transaction, the executive vice president directly owned 125,505 shares in the company, valued at $21,738,721.05. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their target price on shares of Advanced Micro Devices from $161.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Sanford C. Bernstein lifted their target price on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $179.21.

Check Out Our Latest Analysis on AMD

About Advanced Micro Devices

(Free Report)

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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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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