Raiffeisen Bank International AG Sells 132,051 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Raiffeisen Bank International AG has reduced its stake in Advanced Micro Devices (AMD) by 29.1%, selling 132,051 shares during the first quarter, leaving the bank with 321,121 shares valued at approximately $33.1 million.
• AMD's stock saw a decrease of 2.6%, with current trading at $171.70, amidst significant activity from institutional investors, who own about 71.34% of the company's shares.
• The company recently reported earnings of $0.96 per share, exceeding estimates, with revenue of $7.44 billion, a 35.9% increase year-over-year, and announced a $6 billion stock buyback program.

Raiffeisen Bank International AG lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 29.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 321,121 shares of the semiconductor manufacturer's stock after selling 132,051 shares during the quarter. Raiffeisen Bank International AG's holdings in Advanced Micro Devices were worth $33,146,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Main Street Financial Solutions LLC raised its holdings in shares of Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after purchasing an additional 98 shares during the period. Peterson Wealth Services raised its holdings in Advanced Micro Devices by 2.9% during the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock valued at $375,000 after acquiring an additional 103 shares during the period. Lifeworks Advisors LLC raised its holdings in Advanced Micro Devices by 5.6% during the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock valued at $203,000 after acquiring an additional 104 shares during the period. Jaffetilchin Investment Partners LLC raised its holdings in Advanced Micro Devices by 1.5% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock valued at $957,000 after acquiring an additional 115 shares during the period. Finally, Alaethes Wealth LLC raised its holdings in Advanced Micro Devices by 0.7% during the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after acquiring an additional 115 shares during the period. Institutional investors own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Dbs Bank cut shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Raymond James Financial restated an "outperform" rating and set a $120.00 price target (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Rosenblatt Securities restated a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Friday, June 13th. Susquehanna boosted their price target on shares of Advanced Micro Devices from $135.00 to $210.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Finally, Benchmark restated a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $162.94.

Advanced Micro Devices Trading Up 3.0%

Shares of NASDAQ:AMD traded up $5.08 during midday trading on Monday, hitting $176.78. 52,313,227 shares of the stock traded hands, compared to its average volume of 56,928,328. The stock has a market capitalization of $286.63 billion, a PE ratio of 129.99, a P/E/G ratio of 2.27 and a beta of 1.94. The business's 50 day moving average is $138.58 and its two-hundred day moving average is $116.44. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 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 firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was up 35.9% compared to the same quarter last year. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board 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.