Axxcess Wealth Management LLC Decreases Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Axxcess Wealth Management LLC decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 27.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,887 shares of the semiconductor manufacturer's stock after selling 8,234 shares during the period. Axxcess Wealth Management LLC's holdings in Advanced Micro Devices were worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMD. Norges Bank purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $2,867,193,000. Toronto Dominion Bank boosted its position in 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 in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of 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 valued at $364,459,000 after acquiring an additional 2,889,739 shares in the last quarter. Northern Trust Corp boosted its stake 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 valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Advanced Micro Devices by 12,097.8% during the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after acquiring an additional 1,992,508 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMD shares. The Goldman Sachs Group initiated coverage on Advanced Micro Devices in a research note on Thursday. They set a "neutral" rating and a $140.00 price objective on the stock. Stifel Nicolaus reissued a "buy" rating and issued a $132.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. Wells Fargo & Company decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Seaport Res Ptn upgraded Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Melius upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

Advanced Micro Devices Stock Performance

AMD opened at $144.16 on Friday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.11. The stock has a market cap of $233.74 billion, a price-to-earnings ratio of 106.00, a PEG ratio of 1.79 and a beta of 2.05. The business has a 50 day moving average of $121.21 and a 200-day moving average of $112.07. 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 announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Advanced Micro Devices Company 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.

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