Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Advanced Micro Devices, Inc. by 23% during Q1, leaving it with 711,649 shares valued at approximately $73 million.
• Several institutional investors increased their holdings in AMD, with Toronto Dominion Bank raising its stake by 443.3% in the last quarter.
• AMD's stock is currently valued at around **$171.70**, experiencing a **2.6%** decline recently, with a market cap of **$278.39 billion** and a 12-month price range of **$76.48 to $182.50**.

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 23.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 711,649 shares of the semiconductor manufacturer's stock after selling 213,100 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Advanced Micro Devices were worth $73,115,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Toronto Dominion Bank raised its stake in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. raised its stake in shares of Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after buying an additional 1,271 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after acquiring an additional 29,825 shares during the last quarter. Heritage Trust Co acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $804,000. Finally, Valicenti Advisory Services Inc. lifted its stake in Advanced Micro Devices by 4.0% in the 1st quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock worth $7,893,000 after purchasing an additional 2,944 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. The Goldman Sachs Group raised Advanced Micro Devices to a "hold" rating and set a $140.00 price target for the company in a report on Thursday, July 10th. Raymond James Financial reaffirmed an "outperform" rating and set a $120.00 price target (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Seaport Res Ptn raised Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 target price for the company in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $162.94.

Insider Activity

In other Advanced Micro Devices news, 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 transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Price Performance

Shares of AMD traded up $5.08 during mid-day trading on Monday, hitting $176.78. 52,313,227 shares of the company traded hands, compared to its average volume of 56,928,328. The business has a 50-day moving average of $138.58 and a 200 day moving average of $116.44. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $286.63 billion, a price-to-earnings ratio of 129.99, a PEG ratio of 2.27 and a beta of 1.94. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The business's revenue was up 35.9% compared to the same quarter last year. As a group, equities 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 initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Advanced Micro Devices 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.