Allspring Global Investments Holdings LLC Reduces Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Allspring Global Investments Holdings LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 649,083 shares of the semiconductor manufacturer's stock after selling 152,805 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Advanced Micro Devices were worth $66,713,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $2,867,193,000. Toronto Dominion Bank raised its stake in shares of Advanced Micro Devices by 443.3% during the fourth 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 last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp lifted its holdings in shares of 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 worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Finally, GAMMA Investing LLC grew its position in Advanced Micro Devices by 12,097.8% in the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after buying an additional 1,992,508 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMD shares. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the stock a "buy" rating in a research note on Friday, June 13th. Wells Fargo & Company reduced their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Morgan Stanley reduced their price target on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, Piper Sandler lifted their price target on Advanced Micro Devices from $125.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average target price of $138.19.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president owned 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Trading Down 1.3%

NASDAQ:AMD traded down $1.91 during trading hours on Monday, reaching $141.90. 42,803,447 shares of the company were exchanged, compared to its average volume of 42,183,486. The firm has a market cap of $230.08 billion, a price-to-earnings ratio of 104.34, a PEG ratio of 1.86 and a beta of 1.99. The stock has a 50 day simple moving average of $113.06 and a 200 day simple moving average of $110.94. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The firm's revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has approved a stock repurchase 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 repurchase 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 stock is undervalued.

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.