Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC sold 5,960 shares of Advanced Micro Devices, Inc. (AMD), reducing its stake by 3.1%, leaving it with 188,421 shares valued at approximately $19.36 million.
• Several institutional investors increased their positions in AMD, with Toronto Dominion Bank boosting its holdings by 443.3% and now owning shares worth around $660 million.
• Research analysts' ratings on AMD vary, with Citigroup adjusting its price target to $165 and Bank of America raising it to $200, while DZ Bank has downgraded the stock to a "sell" rating.

Mutual of America Capital Management LLC decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,421 shares of the semiconductor manufacturer's stock after selling 5,960 shares during the quarter. Mutual of America Capital Management LLC's holdings in Advanced Micro Devices were worth $19,358,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after acquiring an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after acquiring an additional 29,825 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Advanced Micro Devices by 15.3% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,894 shares of the semiconductor manufacturer's stock valued at $1,074,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Advanced Micro Devices by 2,744.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 768 shares of the semiconductor manufacturer's stock valued at $93,000 after acquiring an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group increased their target price on Advanced Micro Devices from $150.00 to $210.00 and gave the company a "buy" rating in a report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday. HSBC raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target for the company in a report on Thursday, July 10th. Citigroup increased their price target on Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Bank of America increased their price target on Advanced Micro Devices from $175.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $178.56.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction dated Tuesday, July 15th. The stock was 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 in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Up 0.2%

NASDAQ AMD traded up $0.36 during trading on Friday, reaching $172.76. 68,723,246 shares of the company's stock were exchanged, compared to its average volume of 66,889,100. The stock has a market cap of $280.36 billion, a P/E ratio of 99.29, a price-to-earnings-growth ratio of 2.06 and a beta of 1.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.97 and a current ratio of 2.49. The company has a 50 day moving average price of $144.55 and a two-hundred day moving average price of $118.25. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the firm posted $0.69 EPS. The firm's revenue for the quarter was up 31.7% 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 fiscal year.

Advanced Micro Devices declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Advanced Micro Devices Company 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.