FengHe Fund Management Pte. Ltd. Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• FengHe Fund Management Pte. Ltd. significantly reduced its stake in Advanced Micro Devices (AMD) by 83.4%, selling 363,500 shares and holding only 72,200 shares now.
• Despite this reduction, several other hedge funds, including Vanguard Group and UBS Asset Management, increased their positions in AMD during the last quarter.
• Wall Street analysts are generally optimistic about AMD, with the stock receiving 22 buy ratings and an average price target of $179.21.

FengHe Fund Management Pte. Ltd. lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 83.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,200 shares of the semiconductor manufacturer's stock after selling 363,500 shares during the quarter. Advanced Micro Devices comprises about 2.8% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 13th biggest holding. FengHe Fund Management Pte. Ltd.'s holdings in Advanced Micro Devices were worth $7,418,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 200 shares during the period. American Capital Advisory LLC increased its stake in shares of Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 130 shares during the period. Kozak & Associates Inc. increased its stake in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after buying an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of recent research reports. TD Cowen upped their target price on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. increased their price target on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Stifel Nicolaus increased their price target on shares of Advanced Micro Devices from $161.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Evercore ISI increased their price target on shares of Advanced Micro Devices from $144.00 to $188.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $180.12.

Insiders Place Their Bets

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

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded down $3.47 during midday trading on Thursday, reaching $180.95. The stock had a trading volume of 66,165,573 shares, compared to its average volume of 46,887,785. The firm has a fifty day simple moving average of $148.18 and a two-hundred day simple moving average of $119.36. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $186.65. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. The stock has a market cap of $293.65 billion, a P/E ratio of 103.99, a P/E/G ratio of 2.07 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.57% and a return on equity of 7.54%. The firm had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same quarter last year, the business earned $0.69 earnings per share. The business's quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board 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.