Fifth Third Wealth Advisors LLC Sells 25,039 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Fifth Third Wealth Advisors LLC decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 55.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,727 shares of the semiconductor manufacturer's stock after selling 25,039 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Advanced Micro Devices were worth $2,027,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in Advanced Micro Devices in the fourth quarter worth $65,897,000. Welch Group LLC grew its stake in shares of Advanced Micro Devices by 6.3% in the fourth quarter. Welch Group LLC now owns 50,466 shares of the semiconductor manufacturer's stock worth $6,179,000 after acquiring an additional 2,981 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. Empire Life Investments Inc. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth $717,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth $34,366,000. Institutional investors own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMD shares. Loop Capital cut their target price on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and issued a $125.00 target price (down from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Hsbc Global Res raised Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Sanford C. Bernstein dropped their price objective on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Fifteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average target price of $132.58.

Advanced Micro Devices Trading Down 2.4%

Shares of NASDAQ AMD traded down $2.89 during trading hours on Thursday, hitting $115.69. 34,020,989 shares of the company traded hands, compared to its average volume of 41,592,125. The stock has a market capitalization of $187.58 billion, a price-to-earnings ratio of 116.86, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company's 50 day moving average price is $101.12 and its 200 day moving average price is $112.29. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28.

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, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Advanced Micro Devices's revenue was up 35.9% compared to the same quarter last year. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices 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 now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

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.