Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by North Star Asset Management Inc.

Key Points

• North Star Asset Management Inc. reduced its stake in Advanced Micro Devices (AMD) by 4.5% during the first quarter, now holding 109,504 shares worth approximately $11.25 million.
• AMD recently reported $0.96 EPS for the quarter, beating expectations, and a revenue increase of 35.9% year-over-year, totaling $7.44 billion.
• The company announced a **share repurchase program** worth $6 billion, indicating management's belief that its stock is undervalued.

North Star Asset Management Inc. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,504 shares of the semiconductor manufacturer's stock after selling 5,185 shares during the period. North Star Asset Management Inc.'s holdings in Advanced Micro Devices were worth $11,250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Toronto Dominion Bank increased its holdings in Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. grew its holdings in shares of Advanced Micro Devices by 56.4% during the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after buying an additional 1,271 shares in the last quarter. Bank Pictet & Cie Europe AG grew 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 worth $31,958,000 after buying an additional 29,825 shares in the last quarter. Heritage Trust Co purchased a new stake in shares of Advanced Micro Devices during the fourth quarter worth $804,000. Finally, Centric Wealth Management boosted its position in shares of Advanced Micro Devices by 20.6% during the 4th quarter. Centric Wealth Management now owns 14,567 shares of the semiconductor manufacturer's stock valued at $1,760,000 after acquiring an additional 2,487 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the transaction, the executive vice president directly owned 1,713,710 shares in the company, 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 SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded up $2.07 during midday trading on Wednesday, reaching $179.51. The stock had a trading volume of 63,549,276 shares, compared to its average volume of 49,722,936. The firm has a fifty day simple moving average of $136.04 and a two-hundred day simple moving average of $115.69. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $182.31. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The stock has a market cap of $291.06 billion, a P/E ratio of 131.99, a P/E/G ratio of 2.35 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm posted $0.62 EPS. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

AMD has been the topic of several recent research reports. Loop Capital lowered their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Sanford C. Bernstein boosted their price target on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Stifel Nicolaus reaffirmed a "buy" rating and issued a $132.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Benchmark reaffirmed a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, KeyCorp cut shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $162.94.

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.