Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Advanced Micro Devices (AMD) by 24.4%, selling 18,726 shares and retaining a total of 58,058 shares valued at approximately $5.99 million.
• Several institutional investors have adjusted their stakes in AMD, with notable increases from LLCs such as Nvwm, First Heartland Consultants, and Phoenix Financial, indicating a strong interest in the semiconductor manufacturer.
• Analysts are optimistic about AMD's performance, with Wells Fargo and Evercore ISI recently raising their target prices for the stock, contributing to its current average target price of $154.68 among analysts.

Mediolanum International Funds Ltd reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,058 shares of the semiconductor manufacturer's stock after selling 18,726 shares during the period. Mediolanum International Funds Ltd's holdings in Advanced Micro Devices were worth $5,993,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMD. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. American Capital Advisory LLC increased its stake in Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 130 shares during the period. Kozak & Associates Inc. increased its stake in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices in the fourth quarter valued at $30,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $0.41 on Thursday, hitting $179.10. The company's stock had a trading volume of 41,620,935 shares, compared to its average volume of 44,274,105. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $182.50. The company has a market capitalization of $290.39 billion, a price-to-earnings ratio of 131.87, a price-to-earnings-growth ratio of 2.35 and a beta of 2.05. 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 has a 50 day moving average of $136.04 and a 200-day moving average of $115.69.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $7.10 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The company's revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, research 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 stock repurchase plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on AMD. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Raymond James Financial restated an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. TD Cowen lifted their price objective on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, UBS Group lifted their price objective on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the company a "buy" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.94.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,998 shares of the company'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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

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.