Rafferty Asset Management LLC Reduces Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Rafferty Asset Management LLC lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 11.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,727,248 shares of the semiconductor manufacturer's stock after selling 612,252 shares during the quarter. Advanced Micro Devices makes up approximately 2.0% of Rafferty Asset Management LLC's holdings, making the stock its 9th biggest holding. Rafferty Asset Management LLC owned approximately 0.29% of Advanced Micro Devices worth $571,004,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $29,000. Summit Securities Group LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction 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 completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

AMD has been the topic of several analyst reports. Wedbush reaffirmed an "outperform" rating and set a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Melius Research set a $110.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Stifel Nicolaus set a $132.00 price target on shares of Advanced Micro Devices in a research report on Monday, April 28th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has an average rating of "Moderate Buy" and an average price target of $132.10.

Advanced Micro Devices Trading Down 2.0%

NASDAQ:AMD traded down $2.37 during mid-day trading on Monday, hitting $114.80. 19,530,751 shares of the company's stock were exchanged, compared to its average volume of 42,600,846. The company has a 50 day simple moving average of $98.94 and a 200-day simple moving average of $114.71. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The firm has a market capitalization of $186.14 billion, a P/E ratio of 115.99, a PEG ratio of 1.11 and a beta of 1.97.

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, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the prior year, the company posted $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, research analysts expect 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 stock buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.