Invictus Private Wealth LLC Sells 46,767 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Invictus Private Wealth LLC reduced its holdings in Advanced Micro Devices (AMD) by 50.9% in Q1, currently holding 45,167 shares valued at $4.64 million, making it the 28th largest position in their portfolio.
• Several large investors, including Empirical Financial Services LLC and HHM Wealth Advisors LLC, increased their stakes in AMD during the same quarter, indicating growing institutional interest.
• AMD's quarterly earnings exceeded expectations with a reported EPS of $0.96 and revenue of $7.44 billion, marking a 35.9% increase in revenue compared to the same period last year.

Invictus Private Wealth LLC cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 50.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,167 shares of the semiconductor manufacturer's stock after selling 46,767 shares during the quarter. Advanced Micro Devices accounts for 0.4% of Invictus Private Wealth LLC's portfolio, making the stock its 28th biggest holding. Invictus Private Wealth LLC's holdings in Advanced Micro Devices were worth $4,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Advanced Micro Devices by 9.9% during the fourth 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 buying an additional 1,929,225 shares during the last quarter. Northern Trust Corp grew its position in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after acquiring an additional 2,874,012 shares during the last quarter. Invesco Ltd. increased its holdings in Advanced Micro Devices by 7.2% during the 4th quarter. Invesco Ltd. now owns 11,368,317 shares of the semiconductor manufacturer's stock valued at $1,373,179,000 after purchasing an additional 765,447 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Advanced Micro Devices by 0.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 8,614,342 shares of the semiconductor manufacturer's stock valued at $885,037,000 after purchasing an additional 73,657 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Advanced Micro Devices by 11.2% in the fourth quarter. Deutsche Bank AG now owns 7,953,627 shares of the semiconductor manufacturer's stock worth $960,719,000 after purchasing an additional 799,876 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMD shares. Barclays raised their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Erste Group Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Roth Capital set a $150.00 price objective on shares of Advanced Micro Devices and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Melius upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.94.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $265,676,461.30. This 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. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Stock Down 2.6%

Shares of Advanced Micro Devices stock traded down $4.61 during trading hours on Friday, reaching $171.70. 74,927,695 shares of the company's stock were exchanged, compared to its average volume of 53,158,520. 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 company has a 50 day moving average of $138.58 and a two-hundred day moving average of $116.48. The stock has a market cap of $278.39 billion, a P/E ratio of 126.25, a P/E/G ratio of 2.27 and a beta of 1.94. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results 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. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a share buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

Advanced Micro Devices 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.