Jennison Associates LLC Sells 9,096,394 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Jennison Associates LLC decreased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 100.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,558 shares of the semiconductor manufacturer's stock after selling 9,096,394 shares during the period. Jennison Associates LLC's holdings in Advanced Micro Devices were worth $366,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMD. Toronto Dominion Bank boosted its stake in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the period. Nicolet Bankshares Inc. increased its holdings in Advanced Micro Devices by 56.4% during 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 last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Advanced Micro Devices by 12.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after purchasing an additional 29,825 shares in the last quarter. Heritage Trust Co purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $804,000. Finally, Centric Wealth Management grew its position in shares of Advanced Micro Devices by 20.6% during the fourth quarter. Centric Wealth Management now owns 14,567 shares of the semiconductor manufacturer's stock worth $1,760,000 after buying an additional 2,487 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 Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the business'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 completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMD shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, June 13th. Benchmark reiterated a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Bank of America upped their price target on Advanced Micro Devices from $130.00 to $175.00 in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, The Goldman Sachs Group upgraded shares of Advanced Micro Devices to a "hold" rating and set a $140.00 target price for the company in a research note on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.68.

Advanced Micro Devices Stock Up 2.7%

AMD traded up $4.35 during trading on Friday, reaching $166.47. 53,186,893 shares of the stock traded hands, compared to its average volume of 46,238,572. The stock has a market cap of $269.91 billion, a price-to-earnings ratio of 122.40, a price-to-earnings-growth ratio of 2.20 and a beta of 2.05. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $174.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The stock's 50-day simple moving average is $132.24 and its two-hundred day simple moving average is $114.46.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a share 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 typically a sign that the company's board of directors 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.