Bank Pictet & Cie Europe AG Lowers Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bank Pictet & Cie Europe AG decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,728 shares of the semiconductor manufacturer's stock after selling 48,846 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Advanced Micro Devices were worth $22,164,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $25,000. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth approximately $29,000. Kozak & Associates Inc. raised its holdings in Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after purchasing an additional 123 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMD. Mizuho raised their price objective on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Melius Research set a $110.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday. Benchmark reissued a "buy" rating and set a $170.00 price objective on shares of Advanced Micro Devices in a report on Friday. Finally, Piper Sandler reissued an "overweight" rating and set a $125.00 price objective (down previously from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.13.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $116.16 on Monday. The firm's fifty day moving average price is $104.51 and its 200 day moving average price is $111.15. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market cap of $188.34 billion, a price-to-earnings ratio of 117.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued 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. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business's revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. On average, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

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.

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