Cwm LLC Lowers Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

CWM LLC lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 164,382 shares of the semiconductor manufacturer's stock after selling 24,028 shares during the quarter. CWM LLC's holdings in Advanced Micro Devices were worth $16,889,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Advanced Micro Devices by 1.0% in 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 purchasing an additional 1,441,626 shares during the period. Geode Capital Management LLC grew its stake in Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock worth $4,224,840,000 after purchasing an additional 835,413 shares during the period. Norges Bank bought a new position in Advanced Micro Devices in the fourth quarter worth $2,867,193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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. Finally, Northern Trust Corp boosted its holdings in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after buying an additional 2,874,012 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock traded down $0.18 during trading hours on Monday, reaching $146.24. 44,642,339 shares of the stock traded hands, compared to its average volume of 42,834,383. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $185.50. The firm has a market capitalization of $237.11 billion, a price-to-earnings ratio of 107.53, a P/E/G ratio of 1.95 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average price of $122.16 and a 200 day moving average price of $112.02.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm's 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 fiscal year.

Advanced Micro Devices announced that its board has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. Melius Research upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and increased their price target for the stock from $110.00 to $175.00 in a research note on Monday, June 23rd. Loop Capital decreased their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Piper Sandler set a $270.00 target price on shares of Advanced Micro Devices and gave the company an "overweight" rating in a report on Thursday. Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price target for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group raised Advanced Micro Devices to a "hold" rating and set a $140.00 price objective for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $147.00.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 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 at this link. 0.06% of the stock is owned by corporate insiders.

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.