Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 93.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 303,375 shares of the semiconductor manufacturer's stock after selling 4,576,820 shares during the quarter. Wellington Management Group LLP's holdings in Advanced Micro Devices were worth $36,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $25,000. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $29,000. Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $31,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction 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. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMD. 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 report on Wednesday, May 7th. Wedbush restated an "outperform" rating and issued a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Robert W. Baird decreased their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. UBS Group decreased their target price on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Melius Research set a $110.00 target price on Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $132.58.

Advanced Micro Devices Stock Performance

AMD traded down $2.96 on Friday, hitting $110.07. 36,035,850 shares of the company traded hands, compared to its average volume of 41,884,741. The company has a 50 day moving average of $100.25 and a 200-day moving average of $112.88. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $178.47 billion, a PE ratio of 111.18, a PEG ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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 firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Sell-side analysts anticipate 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 repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is 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.