DCF Advisers LLC Sells 12,000 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• DCF Advisers LLC reduced its holdings in Advanced Micro Devices (AMD) by 24.0% in the first quarter, now owning 38,000 shares after selling 12,000 shares.
• Several analysts have increased their price targets for AMD, with Wells Fargo raising it from $120.00 to $185.00 and HSBC setting a new target of $200.00.
• AMD's Board of Directors has initiated a $6.00 billion stock repurchase plan, indicating management's belief that its stock is undervalued.

DCF Advisers LLC trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 24.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,000 shares of the semiconductor manufacturer's stock after selling 12,000 shares during the quarter. Advanced Micro Devices accounts for 1.9% of DCF Advisers LLC's holdings, making the stock its 15th largest holding. DCF Advisers LLC's holdings in Advanced Micro Devices were worth $3,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Toronto Dominion Bank lifted its holdings in shares of Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. lifted its holdings in shares of Advanced Micro Devices by 56.4% in the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock valued at $426,000 after purchasing an additional 1,271 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in Advanced Micro Devices by 12.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after acquiring an additional 29,825 shares during the last quarter. Heritage Trust Co purchased a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $804,000. Finally, Valicenti Advisory Services Inc. raised its stake in Advanced Micro Devices by 4.0% during the 1st quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock valued at $7,893,000 after acquiring an additional 2,944 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 3.0%

Shares of AMD stock traded up $5.08 on Monday, hitting $176.78. The company's stock had a trading volume of 52,313,227 shares, compared to its average volume of 56,928,328. 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 fifty-two week low of $76.48 and a fifty-two week high of $182.50. The firm's fifty day moving average price is $138.58 and its 200-day moving average price is $116.44. The stock has a market capitalization of $286.63 billion, a price-to-earnings ratio of 129.99, a P/E/G ratio of 2.27 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business 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%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has authorized a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group upgraded Advanced Micro Devices to a "hold" rating and set a $140.00 target price on the stock in a research report on Thursday, July 10th. Jefferies Financial Group upped their price target on Advanced Micro Devices from $100.00 to $160.00 in a report on Wednesday, July 16th. Citigroup upped their price target on Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Barclays upped their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Advanced Micro Devices in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of "Moderate Buy" and an average target price of $162.94.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by 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.