Polar Capital Holdings Plc Decreases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Polar Capital Holdings Plc cut its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 80.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 520,863 shares of the semiconductor manufacturer's stock after selling 2,119,466 shares during the quarter. Polar Capital Holdings Plc's holdings in Advanced Micro Devices were worth $62,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMD. Norges Bank purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $2,867,193,000. Kovitz Investment Group Partners LLC lifted its stake in Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after purchasing an additional 2,889,739 shares in the last quarter. Northern Trust Corp boosted its holdings in Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Van ECK Associates Corp grew its position in shares of Advanced Micro Devices by 23.3% during the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock valued at $1,432,538,000 after purchasing an additional 2,238,866 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Advanced Micro Devices by 70.3% in the fourth quarter. Lazard Asset Management LLC now owns 3,609,705 shares of the semiconductor manufacturer's stock worth $436,014,000 after purchasing an additional 1,490,697 shares during the period. 71.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Evercore ISI decreased their target price on Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Robert W. Baird dropped their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Melius lowered shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $160.00 to $129.00 in a report on Tuesday, January 28th. Finally, Barclays increased their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Friday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $132.10.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded down $2.39 during trading hours on Monday, reaching $114.78. The company had a trading volume of 17,574,453 shares, compared to its average volume of 42,591,918. The firm has a market cap of $186.10 billion, a PE ratio of 115.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The business has a fifty day moving average price of $98.94 and a 200-day moving average price of $114.71. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the firm earned $0.62 EPS. The business's quarterly revenue was up 35.9% on a year-over-year basis. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has approved a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board 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.