Y Intercept Hong Kong Ltd Sells 74,275 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Y Intercept Hong Kong Ltd reduced its holdings in Advanced Micro Devices (AMD) by 93.9%, selling 74,275 shares to hold only 4,841 shares valued at $497,000.
• AMD reported a 35.9% year-over-year revenue increase in its latest quarter, with earnings per share of $0.96, exceeding analysts' expectations.
• The company's Board authorized a $6 billion share buyback program, indicating management's belief that the stock is undervalued.

Y Intercept Hong Kong Ltd decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 93.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,841 shares of the semiconductor manufacturer's stock after selling 74,275 shares during the period. Y Intercept Hong Kong Ltd's holdings in Advanced Micro Devices were worth $497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMD. Greenline Partners LLC acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of Advanced Micro Devices by 277.8% during 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 purchasing an additional 200 shares in the last quarter. American Capital Advisory LLC raised its holdings in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 130 shares in the last quarter. Kozak & Associates Inc. grew its stake in Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices in the 4th quarter valued at $30,000. Institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Susquehanna boosted their price objective on shares of Advanced Micro Devices from $135.00 to $210.00 and gave the stock a "positive" rating in a report on Wednesday. TD Cowen boosted their price target on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Citigroup boosted their target price on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Finally, Robert W. Baird dropped their price target 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $162.94.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company's 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 sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $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. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Down 0.5%

AMD traded down $0.88 during trading hours on Thursday, hitting $178.63. 30,241,142 shares of the company's stock were exchanged, compared to its average volume of 44,192,719. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50. The stock's 50-day moving average is $136.04 and its two-hundred day moving average is $115.69. The stock has a market cap of $289.63 billion, a price-to-earnings ratio of 131.31, a PEG ratio of 2.35 and a beta of 2.05. 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 posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) 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 firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was up 35.9% compared to the same quarter last year. Sell-side analysts predict 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 authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are 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.