Gradient Capital Advisors LLC Lowers Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Gradient Capital Advisors LLC lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,388 shares of the semiconductor manufacturer’s stock after selling 704 shares during the quarter. Gradient Capital Advisors LLC’s holdings in Advanced Micro Devices were worth $965,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AMD. Vanguard Group Inc. boosted its stake in shares of Advanced Micro Devices by 1.0% in the fourth 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 lifted its holdings in shares of Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after buying an additional 835,413 shares during the period. Norges Bank purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $2,867,193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Advanced Micro Devices by 9.9% during the fourth 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. Finally, Northern Trust Corp lifted its stake in shares of Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares of the company’s stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AMD. Roth Capital set a $150.00 target price on Advanced Micro Devices and gave the stock a “buy” rating in a report on Friday, June 13th. Bank of America raised their price objective on Advanced Micro Devices from $130.00 to $175.00 in a research note on Wednesday. Morgan Stanley dropped their price target on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. HSBC upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Thursday, July 10th. Finally, Evercore ISI set a $144.00 price target on shares of Advanced Micro Devices and gave the company an “outperform” rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.58.

Advanced Micro Devices Stock Down 0.6%

Shares of NASDAQ:AMD opened at $159.44 on Friday. The firm’s 50-day moving average is $126.58 and its two-hundred day moving average is $113.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $174.05. The firm has a market capitalization of $258.51 billion, a PE ratio of 117.73, a price-to-earnings-growth ratio of 2.14 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. Analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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.