Wimmer Associates 1 LLC Lowers Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Wimmer Associates 1 LLC trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,530 shares of the semiconductor manufacturer’s stock after selling 145 shares during the quarter. Wimmer Associates 1 LLC’s holdings in Advanced Micro Devices were worth $668,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Advanced Micro Devices during the fourth quarter worth approximately $2,867,193,000. Toronto Dominion Bank grew its stake in Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after buying an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock worth $364,459,000 after buying an additional 2,889,739 shares during the period. Northern Trust Corp boosted its stake in shares of Advanced Micro Devices by 20.1% in the fourth 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. Finally, Van ECK Associates Corp boosted its stake in shares of Advanced Micro Devices by 23.3% in the fourth 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 during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMD has been the subject of several analyst reports. Barclays upped their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their target price for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Argus set a $160.00 target price on shares of Advanced Micro Devices in a research note on Thursday, February 6th. Roth Capital set a $140.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Finally, Citigroup restated a “neutral” rating on shares of Advanced Micro Devices in a research note on Wednesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.10.

Advanced Micro Devices Stock Up 1.9%

Shares of NASDAQ:AMD opened at $117.17 on Monday. The stock has a market capitalization of $189.98 billion, a price-to-earnings ratio of 118.35, a price-to-earnings-growth 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. The company’s fifty day moving average is $98.94 and its two-hundred day moving average is $114.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. Equities analysts anticipate 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 share buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.