Sequoia Financial Advisors LLC Sells 15,718 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sequoia Financial Advisors LLC lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 25.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,811 shares of the semiconductor manufacturer's stock after selling 15,718 shares during the period. Sequoia Financial Advisors LLC's holdings in Advanced Micro Devices were worth $4,707,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMD. Norges Bank acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $2,867,193,000. Toronto Dominion Bank increased its stake in shares of 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 valued at $660,475,000 after buying an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after acquiring an additional 2,889,739 shares during the last quarter. Northern Trust Corp lifted its stake 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 valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Advanced Micro Devices by 12,097.8% during the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock valued at $206,402,000 after acquiring an additional 1,992,508 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded up $0.13 during midday trading on Friday, reaching $143.81. The company's stock had a trading volume of 61,778,559 shares, compared to its average volume of 42,180,375. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a market cap of $233.17 billion, a PE ratio of 105.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.99. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The business has a 50-day moving average price of $113.06 and a 200-day moving average price of $111.08.

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. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has authorized a stock buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMD. Jefferies Financial Group lowered shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price objective for the company from $135.00 to $120.00 in a report on Thursday, March 27th. Benchmark reissued a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Melius Research raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their price objective for the stock from $110.00 to $175.00 in a research note on Monday, June 23rd. Bank of America lifted their price target on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Melius raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research note on Monday, June 23rd. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $138.19.

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.