Mizuho Markets Americas LLC Sells 250,893 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Mizuho Markets Americas LLC significantly reduced its stake in Advanced Micro Devices by 90%, selling 250,893 shares to hold 27,728 shares worth approximately $2.8 million.
• Advanced Micro Devices reported earnings of $0.48 per share for the last quarter, missing analyst expectations, though revenue of $7.69 billion exceeded estimates.
• The company initiated a $6 billion share buyback program, signifying management's belief that its shares are undervalued.

Mizuho Markets Americas LLC cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 90.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,728 shares of the semiconductor manufacturer's stock after selling 250,893 shares during the period. Mizuho Markets Americas LLC's holdings in Advanced Micro Devices were worth $2,849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Advanced Micro Devices by 1.4% during the first quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer's stock worth $15,654,222,000 after buying an additional 2,157,199 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 in the last quarter. Northern Trust Corp increased its holdings in shares of Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after buying an additional 2,874,012 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Advanced Micro Devices by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,549,100 shares of the semiconductor manufacturer's stock worth $1,083,815,000 after buying an additional 466,048 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Advanced Micro Devices by 27.9% in the first quarter. Deutsche Bank AG now owns 10,175,532 shares of the semiconductor manufacturer's stock valued at $1,045,434,000 after purchasing an additional 2,221,905 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices 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 $265,676,461.30. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Stock Up 0.2%

NASDAQ AMD traded up $0.36 during trading hours on Friday, hitting $172.76. The company's stock had a trading volume of 68,723,246 shares, compared to its average volume of 66,889,100. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $182.50. The company has a market capitalization of $280.36 billion, a PE ratio of 99.29, a price-to-earnings-growth ratio of 2.07 and a beta of 1.94. The company has a current ratio of 2.49, a quick ratio of 1.97 and a debt-to-equity ratio of 0.05. The company's 50-day simple moving average is $144.55 and its two-hundred day simple moving average is $118.21.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the business posted $0.69 EPS. Advanced Micro Devices's revenue was up 31.7% compared to the same quarter last year. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its board has approved a stock buyback program 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 programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Advanced Micro Devices from $185.00 to $168.00 and set an "equal weight" rating for the company in a report on Wednesday. Loop Capital decreased their price objective on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Susquehanna increased their price objective on Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a report on Wednesday, July 30th. Wells Fargo & Company increased their price objective on Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Melius Research upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from $110.00 to $175.00 in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average target price of $178.56.

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.