SGL Investment Advisors Inc. Cuts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• SGL Investment Advisors Inc. has reduced its holdings in Advanced Micro Devices (NASDAQ:AMD) by 50.2% to 2,787 shares, with these holdings valued at approximately $283,000.
• Several other large investors have increased their positions in AMD, with Generali Investments Towarzystwo Funduszy Inwestycyjnych raising its stake by 44.5% during the same period.
• Advanced Micro Devices recently announced a $6 billion stock buyback program, indicating the company's belief that its shares are undervalued.

SGL Investment Advisors Inc. reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 50.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,787 shares of the semiconductor manufacturer's stock after selling 2,805 shares during the quarter. SGL Investment Advisors Inc.'s holdings in Advanced Micro Devices were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC increased its holdings in Advanced Micro Devices by 8.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 731,966 shares of the semiconductor manufacturer's stock valued at $75,202,000 after purchasing an additional 57,957 shares in the last quarter. Fairfield Financial Advisors LTD increased its holdings in Advanced Micro Devices by 14.1% in the 1st quarter. Fairfield Financial Advisors LTD now owns 4,763 shares of the semiconductor manufacturer's stock valued at $489,000 after purchasing an additional 588 shares in the last quarter. Blair William & Co. IL increased its holdings in Advanced Micro Devices by 5.0% in the 1st quarter. Blair William & Co. IL now owns 267,109 shares of the semiconductor manufacturer's stock valued at $27,443,000 after purchasing an additional 12,737 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in Advanced Micro Devices by 44.5% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 40,932 shares of the semiconductor manufacturer's stock valued at $4,205,000 after purchasing an additional 12,600 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Advanced Micro Devices by 4.0% in the 1st quarter. Manchester Capital Management LLC now owns 10,613 shares of the semiconductor manufacturer's stock valued at $1,090,000 after purchasing an additional 406 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMD shares. Seaport Res Ptn upgraded Advanced Micro Devices to a "strong-buy" rating in a research note on Wednesday, April 30th. TD Cowen raised their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wedbush restated an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Sanford C. Bernstein raised their target price on Advanced Micro Devices from $95.00 to $140.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Finally, Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $162.94.

Advanced Micro Devices Stock Down 2.6%

Shares of Advanced Micro Devices stock opened at $171.70 on Friday. The business's fifty day moving average price is $138.58 and its two-hundred day moving average price is $116.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The company has a market capitalization of $278.39 billion, a P/E ratio of 126.25, a PEG ratio of 2.27 and a beta of 1.94. 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 announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The firm had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm'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 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors 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 buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

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.

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