Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its holdings in Advanced Micro Devices (AMD) by 20.7%, selling 202,546 shares, leaving it with 777,555 shares valued at approximately $79.95 million.
• Advanced Micro Devices reported a net margin of 9.57% for the last quarter, with a revenue of $7.69 billion, surpassing analysts' expectations of $7.41 billion.
• The company announced a $6.00 billion share buyback plan, indicating a belief among its leadership that the stock is currently undervalued.

Russell Investments Group Ltd. lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 20.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 777,555 shares of the semiconductor manufacturer's stock after selling 202,546 shares during the period. Russell Investments Group Ltd.'s holdings in Advanced Micro Devices were worth $79,950,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Advanced Micro Devices by 1.4% during the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock valued at $15,654,222,000 after acquiring an additional 2,157,199 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock valued at $2,585,079,000 after acquiring an additional 1,929,225 shares during the last quarter. Northern Trust Corp increased its position in Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Invesco Ltd. increased its position in Advanced Micro Devices by 4.0% during the first quarter. Invesco Ltd. now owns 11,819,012 shares of the semiconductor manufacturer's stock valued at $1,214,285,000 after acquiring an additional 450,695 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Advanced Micro Devices by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,549,100 shares of the semiconductor manufacturer's stock valued at $1,083,815,000 after purchasing an additional 466,048 shares during the period. Institutional investors own 71.34% of the company's stock.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company's 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul Darren Grasby sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 125,505 shares in the company, valued at approximately $21,738,721.05. This trade represents a 7.38% 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 Up 5.4%

Shares of AMD stock traded up $9.47 during mid-day trading on Wednesday, hitting $184.42. 108,009,213 shares of the stock traded hands, compared to its average volume of 67,074,880. The stock has a market cap of $299.28 billion, a P/E ratio of 105.99, a P/E/G ratio of 2.07 and a beta of 1.94. The stock's fifty day moving average is $148.18 and its two-hundred day moving average is $119.36. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $186.65. 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 released 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 firm had revenue of $7.69 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Piper Sandler boosted their target price on shares of Advanced Micro Devices from $140.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Jefferies Financial Group boosted their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. Finally, Truist Financial boosted their target price on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $179.21.

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.