Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Avanza Fonder AB

Avanza Fonder AB lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 13.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 157,176 shares of the semiconductor manufacturer's stock after selling 24,316 shares during the period. Advanced Micro Devices makes up approximately 0.5% of Avanza Fonder AB's investment portfolio, making the stock its 26th largest position. Avanza Fonder AB's holdings in Advanced Micro Devices were worth $16,183,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $25,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices in the fourth quarter valued at $29,000. Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded down $2.64 during mid-day trading on Thursday, hitting $118.50. 44,080,814 shares of the company were exchanged, compared to its average volume of 41,429,584. The stock has a 50 day simple moving average of $103.06 and a 200-day simple moving average of $111.80. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $192.14 billion, a price-to-earnings ratio of 119.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its 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. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter last year, the business earned $0.62 EPS. The business'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 has approved a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's 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 sale, the executive vice president now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMD. UBS Group lowered their price objective on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird lowered 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 report on Wednesday, May 7th. Stifel Nicolaus set a $132.00 price objective on shares of Advanced Micro Devices in a report on Monday, April 28th. Melius Research set a $110.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Susquehanna cut their price target on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus price target of $133.23.

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.