Sumitomo Mitsui Trust Group Inc. Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,164,752 shares of the semiconductor manufacturer's stock after selling 121,413 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.32% of Advanced Micro Devices worth $530,627,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in Advanced Micro Devices by 7.8% in the first quarter. Golden State Wealth Management LLC now owns 8,867 shares of the semiconductor manufacturer's stock valued at $911,000 after acquiring an additional 638 shares during the last quarter. Hoertkorn Richard Charles increased its position in shares of Advanced Micro Devices by 16.7% during the first quarter. Hoertkorn Richard Charles now owns 7,117 shares of the semiconductor manufacturer's stock worth $731,000 after purchasing an additional 1,020 shares in the last quarter. Crescent Grove Advisors LLC increased its position in shares of Advanced Micro Devices by 16.1% during the first quarter. Crescent Grove Advisors LLC now owns 5,617 shares of the semiconductor manufacturer's stock worth $577,000 after purchasing an additional 777 shares in the last quarter. BSW Wealth Partners lifted its holdings in shares of Advanced Micro Devices by 1.4% in the 1st quarter. BSW Wealth Partners now owns 8,970 shares of the semiconductor manufacturer's stock valued at $922,000 after purchasing an additional 127 shares during the last quarter. Finally, Elevated Capital Advisors LLC lifted its holdings in shares of Advanced Micro Devices by 2.5% in the 1st quarter. Elevated Capital Advisors LLC now owns 10,553 shares of the semiconductor manufacturer's stock valued at $1,084,000 after purchasing an additional 254 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Analysts Set New Price Targets

AMD has been the subject of a number of research reports. Robert W. Baird reduced 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 report on Wednesday, May 7th. Hsbc Global Res upgraded Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Sanford C. Bernstein reduced their price objective on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, KeyCorp lowered Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.19.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Up 0.1%

Shares of NASDAQ:AMD traded up $0.13 during mid-day trading on Friday, reaching $143.81. 61,778,559 shares of the stock were exchanged, compared to its average volume of 42,236,472. The stock's 50 day simple moving average is $113.06 and its 200-day simple moving average is $111.21. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The company has a market cap of $233.17 billion, a P/E ratio of 105.74, a P/E/G ratio of 1.85 and a beta of 1.99. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the business earned $0.62 EPS. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, 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 of Directors has initiated a share repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors 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.