Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Rathbones Group PLC

Key Points

• Rathbones Group PLC has reduced its stake in Advanced Micro Devices (AMD) by 52.6%, currently holding 8,543 shares valued at approximately $878,000.
• Several institutional investors, including Toronto Dominion Bank and Brighton Jones LLC, have significantly increased their holdings in AMD, with Toronto Dominion Bank growing its stake by 443.3%.
• AMD's quarterly earnings report showed an EPS of $0.48, missing expectations, but revenue reached $7.69 billion, exceeding analyst estimates.

Rathbones Group PLC lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 52.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 8,543 shares of the semiconductor manufacturer's stock after selling 9,477 shares during the period. Rathbones Group PLC's holdings in Advanced Micro Devices were worth $878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Toronto Dominion Bank grew its stake in shares of Advanced Micro Devices by 443.3% during the 4th 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 period. Bank Pictet & Cie Europe AG grew its position in Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after buying an additional 29,825 shares during the period. Valicenti Advisory Services Inc. grew its position in Advanced Micro Devices by 4.0% during the first quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock valued at $7,893,000 after buying an additional 2,944 shares during the period. Sound Income Strategies LLC increased its holdings in Advanced Micro Devices by 17.2% in the first quarter. Sound Income Strategies LLC now owns 1,728 shares of the semiconductor manufacturer's stock valued at $178,000 after buying an additional 253 shares in the last quarter. Finally, Brighton Jones LLC raised its position in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after acquiring an additional 29,438 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated 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 of the company's stock, valued at $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paul Darren Grasby sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the completion of the sale, the executive vice president directly owned 125,505 shares in the company, valued at $21,738,721.05. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AMD has been the topic of a number of analyst reports. Susquehanna raised their target price on Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Bank of America increased their price target on Advanced Micro Devices from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Seaport Res Ptn upgraded Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Evercore ISI upped their target price on Advanced Micro Devices from $144.00 to $188.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, Benchmark lifted their price target on shares of Advanced Micro Devices from $170.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One research 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $179.21.

Advanced Micro Devices Trading Up 5.4%

Shares of Advanced Micro Devices stock opened at $184.42 on Thursday. The stock has a 50 day moving average of $148.18 and a 200 day moving average of $119.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 2.49. The firm has a market capitalization of $299.28 billion, a price-to-earnings ratio of 105.99, a PEG ratio of 2.07 and a beta of 1.94. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $186.65.

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

Advanced Micro Devices declared that its board has approved a share repurchase program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Advanced Micro Devices Company 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.

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