Zevenbergen Capital Investments LLC Trims Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Zevenbergen Capital Investments LLC has reduced its holdings in Advanced Micro Devices (AMD) by 15.5%, now owning approximately 881,789 shares, which makes up 2.2% of their investment portfolio.
• In contrast, Toronto Dominion Bank significantly increased its stake by 443.3% in the previous quarter, acquiring 5,467,956 shares valued at approximately $660 million.
• Advanced Micro Devices recently reported earnings, with an EPS of $0.48, missing estimates by $0.06, while revenues grew by 31.7% year-over-year to $7.69 billion.

Zevenbergen Capital Investments LLC lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 881,789 shares of the semiconductor manufacturer's stock after selling 162,211 shares during the quarter. Advanced Micro Devices comprises approximately 2.2% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 16th biggest holding. Zevenbergen Capital Investments LLC owned approximately 0.05% of Advanced Micro Devices worth $90,595,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after buying an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after acquiring an additional 234 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after acquiring an additional 29,825 shares during the period. FIL Ltd lifted its position in Advanced Micro Devices by 6.1% during the fourth quarter. FIL Ltd now owns 142,795 shares of the semiconductor manufacturer's stock worth $17,248,000 after purchasing an additional 8,212 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its position in Advanced Micro Devices by 1.5% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded down $0.48 during mid-day trading on Monday, reaching $172.28. 70,466,127 shares of the stock traded hands, compared to its average volume of 67,829,976. The business has a 50-day moving average of $144.55 and a 200 day moving average of $118.17. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50. The stock has a market capitalization of $279.58 billion, a PE ratio of 64.22, a PEG ratio of 2.07 and a beta of 1.94. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The business had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company's revenue was up 31.7% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction dated 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 completion of the sale, the executive vice president directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AMD has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday. Citigroup raised their price objective on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Melius Research upgraded Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $110.00 to $175.00 in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $179.21.

Advanced Micro Devices Company 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.