Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock Holdings Lessened by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates LLC significantly reduced its stake in Advanced Micro Devices, trimming it by 73.6% to 31,894 shares, which were worth approximately $3.28 million.
• Several institutional investors, including Toronto Dominion Bank and Nicolet Bankshares Inc., have notably increased their holdings in AMD, with Toronto Dominion acquiring 4.46 million shares.
• Advanced Micro Devices reported a quarterly EPS of $0.96, exceeding estimates, and announced a $6 billion stock buyback plan that allows repurchasing up to 3.1% of its outstanding shares.

Zweig DiMenna Associates LLC trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 73.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,894 shares of the semiconductor manufacturer's stock after selling 88,952 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Advanced Micro Devices were worth $3,277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Stevens Capital Management LP purchased a new stake in Advanced Micro Devices in the 1st quarter valued at about $5,641,000. IvyRock Asset Management HK Ltd purchased a new stake in shares of Advanced Micro Devices in the 1st quarter worth approximately $247,000. Firetrail Investments PTY Ltd. lifted its position in shares of Advanced Micro Devices by 3.8% in the 1st quarter. Firetrail Investments PTY Ltd. now owns 81,542 shares of the semiconductor manufacturer's stock worth $8,468,000 after purchasing an additional 2,998 shares during the period. Caliber Wealth Management LLC KS purchased a new stake in shares of Advanced Micro Devices during the 1st quarter worth $1,191,000. Finally, Trilogy Capital Inc. lifted its position in Advanced Micro Devices by 37.5% during the first quarter. Trilogy Capital Inc. now owns 24,069 shares of the semiconductor manufacturer's stock valued at $2,473,000 after acquiring an additional 6,562 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

AMD stock traded up $4.35 during trading on Friday, hitting $166.47. The stock had a trading volume of 53,186,893 shares, compared to its average volume of 46,238,572. The company's 50 day moving average price is $132.24 and its two-hundred day moving average price is $114.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The stock has a market cap of $269.91 billion, a price-to-earnings ratio of 122.40, a price-to-earnings-growth ratio of 2.14 and a beta of 2.05. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results 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 net margin of 8.03% and a return on equity of 8.30%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The company's revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMD has been the subject of several research analyst reports. Evercore ISI set a $144.00 price objective on shares of Advanced Micro Devices and gave the company an "outperform" rating in a research report on Friday, June 13th. Raymond James Financial restated an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. UBS Group cut their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $120.00 price objective (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.68.

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.