First Foundation Advisors Has $18.58 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• First Foundation Advisors reduced its holdings in Advanced Micro Devices (AMD) by 1.6%, selling 2,960 shares and now owns 180,829 shares, which is approximately 0.8% of its portfolio.
• Analysts have mixed ratings for AMD, with 24 analysts giving it a buy rating, and a consensus price target of around $156.61, reflecting a bullish outlook for the semiconductor stock.
• AMD recently announced a $6 billion share repurchase plan, indicating that the company believes its stock is undervalued.

First Foundation Advisors trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 180,829 shares of the semiconductor manufacturer's stock after selling 2,960 shares during the quarter. Advanced Micro Devices makes up approximately 0.8% of First Foundation Advisors' holdings, making the stock its 28th largest position. First Foundation Advisors' holdings in Advanced Micro Devices were worth $18,578,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AMD. Toronto Dominion Bank increased its stake 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 purchasing an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. raised its position in Advanced Micro Devices by 56.4% in the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after purchasing an additional 1,271 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after acquiring an additional 29,825 shares during the period. Heritage Trust Co bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $804,000. Finally, Centric Wealth Management boosted its stake in Advanced Micro Devices by 20.6% in the fourth quarter. Centric Wealth Management now owns 14,567 shares of the semiconductor manufacturer's stock valued at $1,760,000 after acquiring an additional 2,487 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Dbs Bank cut shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Wells Fargo & Company boosted their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Morgan Stanley set a $185.00 target price on shares of Advanced Micro Devices and gave the stock an "equal weight" rating in a research note on Wednesday. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Jefferies Financial Group raised their target price on shares of Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus price target of $162.94.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded down $4.66 during trading hours on Friday, reaching $171.65. 74,517,089 shares of the company were exchanged, compared to its average volume of 44,676,465. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $182.50. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The firm has a market cap of $278.31 billion, a price-to-earnings ratio of 126.21, a PEG ratio of 2.37 and a beta of 2.05. The stock has a 50-day moving average of $137.35 and a 200 day moving average of $116.10.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the company posted $0.62 earnings per share. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. As a group, research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has approved 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 stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

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

About Advanced Micro Devices

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.