Golden State Equity Partners Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Golden State Equity Partners lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.9% during the first quarter, HoldingsChannel reports. The firm owned 8,924 shares of the semiconductor manufacturer’s stock after selling 173 shares during the period. Golden State Equity Partners’ holdings in Advanced Micro Devices were worth $917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Advanced Micro Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after purchasing an additional 835,413 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. Norges Bank acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 worth $2,585,079,000 after purchasing an additional 1,929,225 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

AMD stock opened at $143.40 on Thursday. The business has a 50 day moving average price of $110.81 and a 200 day moving average price of $111.01. The stock has a market cap of $232.51 billion, a price-to-earnings ratio of 105.44, a PEG ratio of 1.79 and a beta of 1.99. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results 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. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. Equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMD. Piper Sandler raised their price objective on Advanced Micro Devices from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. UBS Group dropped their target price on Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Thursday, May 8th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $138.19.

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.