Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Argent Trust Co

Key Points

• Argent Trust Co has reduced its stake in Advanced Micro Devices, Inc. by 8.1%, selling 1,893 shares and now holding 21,384 shares valued at approximately $2,197,000.
• Significant recent activity from hedge funds included Farmers & Merchants Trust Co increasing its stake by 277.8% and American Capital Advisory LLC growing its holdings by 90.3% during the first quarter.
• Advanced Micro Devices reported a 35.9% year-over-year revenue increase to $7.44 billion and announced a $6.00 billion share buyback program as of May 14th.

Argent Trust Co decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 21,384 shares of the semiconductor manufacturer's stock after selling 1,893 shares during the period. Argent Trust Co's holdings in Advanced Micro Devices were worth $2,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMD. Toronto Dominion Bank lifted its holdings in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in Advanced Micro Devices by 2,265.5% in 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 buying an additional 2,889,739 shares during the last quarter. Northern Trust Corp increased its position in Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. GAMMA Investing LLC increased its position in Advanced Micro Devices by 12,097.8% in the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after buying an additional 1,992,508 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Advanced Micro Devices by 9.9% in 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 purchasing an additional 1,929,225 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

AMD has been the subject of several recent analyst reports. DZ Bank lowered Advanced Micro Devices from a "buy" rating to a "sell" rating and set a $150.00 price objective for the company. in a report on Wednesday, July 30th. Stifel Nicolaus reissued a "buy" rating and issued a $132.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Citigroup upped their price target on Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Evercore ISI set a $144.00 price objective on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Barclays raised their price objective on Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $162.94.

Advanced Micro Devices Trading Down 1.4%

Advanced Micro Devices stock traded down $2.41 during trading on Tuesday, hitting $174.37. The company had a trading volume of 23,774,224 shares, compared to its average volume of 44,584,629. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The company's 50 day simple moving average is $139.91 and its 200-day simple moving average is $116.83. The stock has a market cap of $282.73 billion, a price-to-earnings ratio of 128.11, a price-to-earnings-growth ratio of 2.27 and a beta of 1.94.

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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the firm earned $0.62 EPS. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were 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 $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

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.