Adero Partners LLC Reduces Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Adero Partners LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,445 shares of the semiconductor manufacturer’s stock after selling 519 shares during the quarter. Adero Partners LLC’s holdings in Advanced Micro Devices were worth $868,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC boosted its position in Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after acquiring an additional 835,413 shares during the last quarter. Fisher Asset Management LLC boosted its position in Advanced Micro Devices by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after acquiring an additional 290,784 shares during the last quarter. Norges Bank acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Advanced Micro Devices by 9.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock valued at $2,585,079,000 after acquiring an additional 1,929,225 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $116.16 on Monday. The firm has a market capitalization of $188.34 billion, a P/E ratio of 117.33, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The business’s 50-day simple moving average is $104.51 and its 200-day simple moving average is $111.15.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the business earned $0.62 EPS. Advanced Micro Devices’s revenue for the quarter was up 35.9% compared to the same quarter last year. Equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has initiated a share 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 reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AMD. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday. Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $125.00 price objective (down previously from $140.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Raymond James reissued an “outperform” rating and set a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Barclays upped their price target on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus target price of $134.13.

About Advanced Micro Devices

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.