Edgestream Partners L.P. Decreases Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Edgestream Partners L.P. lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 69.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,378 shares of the semiconductor manufacturer's stock after selling 5,396 shares during the period. Edgestream Partners L.P.'s holdings in Advanced Micro Devices were worth $244,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMD. Norges Bank purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth about $2,867,193,000. Toronto Dominion Bank grew its stake in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Advanced Micro Devices by 2,265.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Northern Trust Corp grew its stake in shares of Advanced Micro Devices by 20.1% in the fourth 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 last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Advanced Micro Devices by 12,097.8% in the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after purchasing an additional 1,992,508 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMD shares. Sanford C. Bernstein raised their target price on Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a research note on Monday. HSBC raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 target price on the stock in a research note on Thursday, July 10th. Susquehanna cut their target price on 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. Wells Fargo & Company raised their target price on Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Barclays raised their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $154.68.

Advanced Micro Devices Stock Up 2.2%

NASDAQ AMD traded up $3.47 during mid-day trading on Thursday, reaching $162.12. The stock had a trading volume of 47,644,725 shares, compared to its average volume of 46,725,572. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $174.05. The stock has a market cap of $262.86 billion, a PE ratio of 119.21, a price-to-earnings-growth ratio of 2.10 and a beta of 2.05. The company has a fifty day moving average price of $131.25 and a 200 day moving average price of $114.24. 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 (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share 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 during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the business earned $0.62 EPS. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in 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 often an indication that the company's leadership believes its shares are undervalued.

Advanced Micro Devices Company 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.