Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 45,200 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Advanced Micro Devices, Inc. (AMD) by 17.3%, selling 45,200 shares and owning a total of 216,602 shares worth approximately $22.25 million.
• Several institutional investors have increased their positions in AMD, with National Pension Service acquiring an additional 180,761 shares, bringing its total holdings to 3,322,320 shares valued at about $341.34 million.
• AMD's recent earnings report revealed a miss in earnings per share (EPS) estimates at $0.48 compared to the anticipated $0.54, despite a significant revenue increase to $7.69 billion for the quarter.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 17.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,602 shares of the semiconductor manufacturer's stock after selling 45,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Advanced Micro Devices were worth $22,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMD. Holderness Investments Co. boosted its position in shares of Advanced Micro Devices by 9.2% during the 1st quarter. Holderness Investments Co. now owns 9,645 shares of the semiconductor manufacturer's stock valued at $991,000 after acquiring an additional 815 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in Advanced Micro Devices by 69.9% in the first quarter. E Fund Management Co. Ltd. now owns 112,895 shares of the semiconductor manufacturer's stock valued at $11,599,000 after buying an additional 46,439 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its position in Advanced Micro Devices by 185.3% in the first quarter. Financial Network Wealth Advisors LLC now owns 331 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 215 shares in the last quarter. Triglav Skladi D.O.O. boosted its position in Advanced Micro Devices by 40.5% in the first quarter. Triglav Skladi D.O.O. now owns 27,746 shares of the semiconductor manufacturer's stock valued at $2,851,000 after buying an additional 8,000 shares in the last quarter. Finally, National Pension Service boosted its position in Advanced Micro Devices by 5.8% in the first quarter. National Pension Service now owns 3,322,320 shares of the semiconductor manufacturer's stock valued at $341,335,000 after buying an additional 180,761 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction dated 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 owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Darren Grasby sold 10,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 125,505 shares in the company, 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. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMD has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Advanced Micro Devices from $111.00 to $173.00 and gave the company a "hold" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft set a $200.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, August 6th. Benchmark boosted their target price on shares of Advanced Micro Devices from $170.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Mizuho boosted their target price on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, thirteen have assigned 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $179.21.

Advanced Micro Devices Stock Performance

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

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business's revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. As a group, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.

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