Suvretta Capital Management LLC Reduces Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Suvretta Capital Management LLC decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 337,415 shares of the semiconductor manufacturer's stock after selling 9,160 shares during the quarter. Advanced Micro Devices makes up 1.4% of Suvretta Capital Management LLC's portfolio, making the stock its 24th biggest position. Suvretta Capital Management LLC's holdings in Advanced Micro Devices were worth $40,756,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Second Line Capital LLC lifted its position in shares of Advanced Micro Devices by 19.7% during the 4th quarter. Second Line Capital LLC now owns 21,357 shares of the semiconductor manufacturer's stock valued at $2,580,000 after buying an additional 3,519 shares in the last quarter. SGL Investment Advisors Inc. increased its position in shares of Advanced Micro Devices by 11.7% during the 4th quarter. SGL Investment Advisors Inc. now owns 5,592 shares of the semiconductor manufacturer's stock valued at $625,000 after purchasing an additional 585 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Advanced Micro Devices by 12.7% during the 4th quarter. Shell Asset Management Co. now owns 51,478 shares of the semiconductor manufacturer's stock valued at $6,218,000 after purchasing an additional 5,790 shares during the last quarter. Sherbrooke Park Advisers LLC increased its position in shares of Advanced Micro Devices by 53.8% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 7,100 shares of the semiconductor manufacturer's stock valued at $858,000 after purchasing an additional 2,483 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Advanced Micro Devices in the 4th quarter valued at $55,486,000. Institutional investors own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on AMD shares. Barclays upped their price objective on Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday. StockNews.com upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Morgan Stanley lowered their target price on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. Finally, UBS Group decreased their price objective on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $132.58.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded down $2.43 during trading on Monday, reaching $114.74. The stock had a trading volume of 37,547,453 shares, compared to its average volume of 42,669,608. 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. The stock has a market cap of $186.04 billion, a PE ratio of 115.90, a PEG ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $7.10 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The business's revenue was up 35.9% on a year-over-year basis. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a share repurchase 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication 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.