Ethic Inc. Sells 7,546 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Ethic Inc. lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.5% in the first quarter, HoldingsChannel reports. The fund owned 64,534 shares of the semiconductor manufacturer’s stock after selling 7,546 shares during the period. Ethic Inc.’s holdings in Advanced Micro Devices were worth $6,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Advanced Micro Devices by 18.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 9,630 shares of the semiconductor manufacturer’s stock valued at $989,000 after acquiring an additional 1,481 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of Advanced Micro Devices by 6.9% in the 1st quarter. Aberdeen Group plc now owns 1,397,123 shares of the semiconductor manufacturer’s stock valued at $141,452,000 after acquiring an additional 89,604 shares during the last quarter. Azimuth Capital Investment Management LLC lifted its stake in shares of Advanced Micro Devices by 49.7% in the 1st quarter. Azimuth Capital Investment Management LLC now owns 80,249 shares of the semiconductor manufacturer’s stock valued at $8,245,000 after acquiring an additional 26,635 shares during the last quarter. Seaview Investment Managers LLC lifted its stake in shares of Advanced Micro Devices by 4.3% in the 1st quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer’s stock valued at $232,000 after acquiring an additional 93 shares during the last quarter. Finally, Trivium Point Advisory LLC raised its position in Advanced Micro Devices by 7.3% during the 1st quarter. Trivium Point Advisory LLC now owns 3,059 shares of the semiconductor manufacturer’s stock valued at $314,000 after purchasing an additional 207 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMD shares. Stifel Nicolaus upped their price target on Advanced Micro Devices from $161.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft set a $200.00 price target on Advanced Micro Devices in a research report on Wednesday, August 6th. Wells Fargo & Company upped their price target on Advanced Micro Devices from $120.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Melius Research raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and upped their price target for the company from $110.00 to $175.00 in a research report on Monday, June 23rd. Finally, Piper Sandler upped their price target on Advanced Micro Devices from $140.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.12.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total transaction of $1,732,100.00. Following the sale, the executive vice president directly owned 125,505 shares in the company, valued at approximately $21,738,721.05. This trade represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $177.51 on Friday. The business’s fifty day simple moving average is $150.71 and its two-hundred day simple moving average is $120.26. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $186.65. The company has a market cap of $288.07 billion, a price-to-earnings ratio of 102.02, a P/E/G ratio of 2.14 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Advanced Micro Devices 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.