Advanced Micro Devices, Inc. (NASDAQ:AMD) Holdings Cut by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.8% during the first quarter, HoldingsChannel.com reports. The fund owned 2,066,494 shares of the semiconductor manufacturer’s stock after selling 127,318 shares during the period. New York State Common Retirement Fund’s holdings in Advanced Micro Devices were worth $212,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Main Street Financial Solutions LLC increased its stake in shares of Advanced Micro Devices by 3.9% in the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer’s stock valued at $314,000 after purchasing an additional 98 shares during the period. Plancorp LLC increased its stake in shares of Advanced Micro Devices by 2.2% during the fourth quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer’s stock valued at $620,000 after acquiring an additional 112 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in shares of Advanced Micro Devices by 1.5% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer’s stock valued at $957,000 after acquiring an additional 115 shares during the period. Alaethes Wealth LLC increased its stake in shares of Advanced Micro Devices by 0.7% during the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer’s stock valued at $1,891,000 after acquiring an additional 115 shares during the period. Finally, Sunflower Bank N.A. increased its stake in shares of Advanced Micro Devices by 4.3% during the first quarter. Sunflower Bank N.A. now owns 2,808 shares of the semiconductor manufacturer’s stock valued at $288,000 after acquiring an additional 116 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 1.6%

Shares of NASDAQ:AMD opened at $146.42 on Friday. The firm has a fifty day moving average of $122.16 and a two-hundred day moving average of $112.11. The firm has a market capitalization of $237.41 billion, a P/E ratio of 107.66, a price-to-earnings-growth ratio of 1.89 and a beta of 2.05. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $185.50. 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 released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Advanced Micro Devices’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in 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 generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

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 value of $1,670,725.00. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $132.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Benchmark reiterated a “buy” rating and set a $170.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Morgan Stanley reduced their target price on shares of 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. Cantor Fitzgerald restated an “overweight” rating on shares of Advanced Micro Devices in a report on Monday, June 9th. Finally, Robert W. Baird reduced their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.