LGT Fund Management Co Ltd. Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in Advanced Micro Devices, Inc. by 28.4% in Q1, selling 12,604 shares, leaving it with 31,764 shares valued at approximately $3.26 million.
• Several institutional investors, including Thomas Story & Son LLC and Resona Asset Management, increased their stakes in AMD, with Thomas Story boosting its position by 33.0%.
• AMD's quarterly earnings report showed a miss on EPS estimates at $0.48, while revenue of $7.69 billion exceeded estimates, indicating a 31.7% year-over-year increase.

LGT Fund Management Co Ltd. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 28.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,764 shares of the semiconductor manufacturer's stock after selling 12,604 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Advanced Micro Devices were worth $3,263,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. 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 grew its position in Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. American Capital Advisory LLC increased its stake in Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 130 shares during the period. Kozak & Associates Inc. lifted 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 worth $29,000 after purchasing an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $30,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Erste Group Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Mizuho upped their target price on Advanced Micro Devices from $183.00 to $205.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Jefferies Financial Group raised their price target on Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $180.12.

Insider Buying and Selling

In other news, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the transaction, the executive vice president owned 125,505 shares in the company, valued at $21,738,721.05. This trade represents a 7.38% decrease in their position. 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 Advanced Micro Devices stock in a transaction 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 sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded down $3.47 during mid-day trading on Thursday, hitting $180.95. The company had a trading volume of 66,142,216 shares, compared to its average volume of 46,887,039. The company has a market capitalization of $293.65 billion, a price-to-earnings ratio of 103.99, a P/E/G ratio of 2.07 and a beta of 1.94. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $186.65. The company's fifty day moving average is $148.18 and its 200-day moving average is $119.36. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly 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 firm had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.41 billion. During the same period last year, the company posted $0.69 earnings per share. The business's quarterly revenue was up 31.7% on a year-over-year basis. Equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes 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 leadership 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.