Harvest Fund Management Co. Ltd Lowers Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in Advanced Micro Devices, Inc. by 40.9% during the 1st quarter, holding 128,489 shares after selling 88,859 shares.
• Advanced Micro Devices has received a mix of analyst ratings, with a consensus of "Moderate Buy" and a target price of $156.61.
• The company has announced a stock repurchase plan to buy back $6.00 billion worth of shares, signaling management's confidence in the stock's value.

Harvest Fund Management Co. Ltd reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,489 shares of the semiconductor manufacturer's stock after selling 88,859 shares during the period. Advanced Micro Devices comprises about 0.7% of Harvest Fund Management Co. Ltd's portfolio, making the stock its 28th biggest holding. Harvest Fund Management Co. Ltd's holdings in Advanced Micro Devices were worth $13,200,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Greenline Partners LLC acquired a new position in Advanced Micro Devices during the fourth quarter worth $28,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth $30,000. Summit Securities Group LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth $31,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings 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 in the last quarter. Finally, American Capital Advisory LLC grew its holdings 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 in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research reports. Stifel Nicolaus reaffirmed a "buy" rating and set a $132.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Benchmark reaffirmed a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Sanford C. Bernstein upped their target price on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Mizuho upped their target price on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $162.94.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Down 2.6%

NASDAQ:AMD traded down $4.66 during mid-day trading on Friday, hitting $171.65. The stock had a trading volume of 74,517,089 shares, compared to its average volume of 44,676,465. The stock has a 50-day simple moving average of $137.35 and a two-hundred day simple moving average of $116.10. The company has a market capitalization of $278.31 billion, a PE ratio of 126.21, a PEG ratio of 2.37 and a beta of 2.05. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve 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.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors 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.