DSM Capital Partners LLC Reduces Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

DSM Capital Partners LLC reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 5.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,273,794 shares of the semiconductor manufacturer's stock after selling 75,293 shares during the quarter. Advanced Micro Devices comprises 2.3% of DSM Capital Partners LLC's investment portfolio, making the stock its 14th biggest position. DSM Capital Partners LLC owned about 0.08% of Advanced Micro Devices worth $130,870,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Advanced Micro Devices by 169.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,855,341 shares of the semiconductor manufacturer's stock worth $1,012,538,000 after purchasing an additional 6,200,850 shares in the last quarter. Toronto Dominion Bank increased 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 worth $660,475,000 after buying an additional 4,461,609 shares during the last quarter. Nuveen LLC bought a new position in shares of Advanced Micro Devices in the 1st quarter worth $436,746,000. Kovitz Investment Group Partners LLC increased its holdings in shares of Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after buying an additional 2,889,739 shares during the last quarter. Finally, Northern Trust Corp increased its holdings 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 buying an additional 2,874,012 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction 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 sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Darren Grasby sold 10,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the sale, the executive vice president directly owned 125,505 shares in the company, valued at approximately $21,738,721.05. The trade was a 7.38% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on AMD. Deutsche Bank Aktiengesellschaft set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, August 6th. Robert W. Baird reduced 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 report on Wednesday, May 7th. JPMorgan Chase & Co. increased their target price on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Jefferies Financial Group increased their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a report on Wednesday, July 16th. Finally, Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $179.21.

Advanced Micro Devices Stock Performance

AMD opened at $184.42 on Thursday. The firm has a market cap of $299.28 billion, a P/E ratio of 105.99, a PEG ratio of 2.07 and a beta of 1.94. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $186.65. The company has a 50 day simple moving average of $148.18 and a two-hundred day simple moving average of $119.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.81.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the company posted $0.69 EPS. Advanced Micro Devices's revenue was up 31.7% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

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