Cozad Asset Management Inc. Lowers Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Cozad Asset Management Inc. reduced its stake in Advanced Micro Devices by 65.1%, selling 3,900 shares and ending up with 2,093 shares valued at approximately $215,000.
• The company has authorized a $6 billion share repurchase plan, indicating that its board believes the stock may be undervalued.
• Advanced Micro Devices reported a 35.9% year-over-year revenue increase, achieving $7.44 billion in revenue for the last quarter, with an EPS of $0.96, surpassing analyst estimates.

Cozad Asset Management Inc. cut its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 65.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,093 shares of the semiconductor manufacturer's stock after selling 3,900 shares during the quarter. Cozad Asset Management Inc.'s holdings in Advanced Micro Devices were worth $215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Toronto Dominion Bank raised its holdings in shares of 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 valued at $660,475,000 after acquiring 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% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp lifted its position in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. GAMMA Investing LLC boosted its stake in shares of Advanced Micro Devices by 12,097.8% during the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after purchasing an additional 1,992,508 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Advanced Micro Devices by 9.9% during 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 buying an additional 1,929,225 shares during the period. Institutional investors own 71.34% of the company's stock.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $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 accessible through this link. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays increased their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Melius Research raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $110.00 to $175.00 in a research report on Monday, June 23rd. Jefferies Financial Group upped their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Bank of America upped their price objective on shares of Advanced Micro Devices from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.94.

Advanced Micro Devices Trading Down 2.6%

Shares of AMD traded down $4.61 during midday trading on Friday, hitting $171.70. The stock had a trading volume of 74,927,695 shares, compared to its average volume of 53,158,520. The stock's 50 day moving average is $137.35 and its 200 day moving average is $116.10. The firm has a market cap of $278.39 billion, a PE ratio of 126.25, a price-to-earnings-growth ratio of 2.33 and a beta of 1.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. 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 earnings per share. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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.