Cadinha & Co. LLC Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cadinha & Co. LLC lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 54.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,006 shares of the semiconductor manufacturer's stock after selling 4,865 shares during the period. Cadinha & Co. LLC's holdings in Advanced Micro Devices were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock valued at $18,143,884,000 after buying an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Advanced Micro Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after buying an additional 835,413 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after purchasing an additional 290,784 shares in the last quarter. Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter worth about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Advanced Micro Devices by 9.9% in the 4th 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 worth $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.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded down $2.96 during midday trading on Friday, hitting $110.07. The stock had a trading volume of 36,035,850 shares, compared to its average volume of 41,884,741. The firm's fifty day moving average is $100.25 and its two-hundred day moving average is $112.70. The company has a market capitalization of $178.47 billion, a PE ratio of 111.18, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the company posted $0.62 EPS. The firm's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus set a $132.00 price target on shares of Advanced Micro Devices in a research note on Monday, April 28th. Benchmark reiterated a "buy" rating and issued a $170.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, February 18th. Susquehanna lowered their target price on shares of 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. Finally, Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $132.58.

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.