Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,210,554 shares of the semiconductor manufacturer's stock after selling 24,372 shares during the period. Victory Capital Management Inc. owned 0.07% of Advanced Micro Devices worth $124,372,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Advanced Micro Devices by 2.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after purchasing an additional 234 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Advanced Micro Devices by 12.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after purchasing an additional 29,825 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Advanced Micro Devices by 36.9% in the 4th quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock valued at $589,000 after purchasing an additional 1,315 shares during the period. Finally, Madison Investment Advisors LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $7,089,000. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

NASDAQ AMD traded up $0.33 during trading hours on Thursday, hitting $160.41. 50,400,461 shares of the stock were exchanged, compared to its average volume of 41,912,371. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $174.05. 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 company has a market cap of $260.09 billion, a price-to-earnings ratio of 117.95, a price-to-earnings-growth ratio of 2.14 and a beta of 2.05. The stock has a 50-day moving average of $125.41 and a 200 day moving average of $112.79.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS 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 business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the firm posted $0.62 EPS. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, equities 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 has approved a stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus restated a "buy" rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Melius Research upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $110.00 to $175.00 in a research report on Monday, June 23rd. Mizuho increased their price target on Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday. Sanford C. Bernstein reaffirmed a "reduce" rating on shares of Advanced Micro Devices in a research note on Tuesday, July 1st. Finally, Melius raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research note on Monday, June 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $152.58.

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.