Handelsbanken Fonder AB Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Handelsbanken Fonder AB reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 633,978 shares of the semiconductor manufacturer's stock after selling 23,675 shares during the quarter. Handelsbanken Fonder AB's holdings in Advanced Micro Devices were worth $65,135,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted 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 valued at $18,143,884,000 after purchasing an additional 1,441,626 shares during the period. Geode Capital Management LLC increased its holdings in Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after buying an additional 835,413 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock valued at $2,909,350,000 after buying an additional 290,784 shares during the last quarter. Norges Bank bought a new position in Advanced Micro Devices in the 4th quarter valued at about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Advanced Micro Devices by 9.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock worth $2,585,079,000 after purchasing an additional 1,929,225 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded down $1.06 on Friday, hitting $117.44. The company had a trading volume of 19,202,513 shares, compared to its average volume of 40,198,930. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The company has a market cap of $190.42 billion, a PE ratio of 118.63, a PEG ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The business has a 50-day simple moving average of $103.76 and a 200-day simple moving average of $111.65.

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 for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter last year, the company posted $0.62 EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. Research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on AMD. Raymond James reiterated an "outperform" rating and set a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Evercore ISI increased their target price on shares of Advanced Micro Devices from $126.00 to $144.00 and gave the stock an "outperform" rating in a report on Friday. HSBC upgraded Advanced Micro Devices from a "reduce" rating to a "hold" rating in a report on Tuesday, May 27th. Mizuho increased their price target on Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, UBS Group lowered their target price on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $133.81.

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.