Kovitz Investment Group Partners LLC Has $184.11 Million Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Kovitz Investment Group Partners LLC decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 40.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,791,972 shares of the semiconductor manufacturer’s stock after selling 1,225,322 shares during the period. Advanced Micro Devices accounts for approximately 0.9% of Kovitz Investment Group Partners LLC’s portfolio, making the stock its 24th biggest position. Kovitz Investment Group Partners LLC’s holdings in Advanced Micro Devices were worth $184,107,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMD. Vestmark Advisory Solutions Inc. lifted its position in shares of Advanced Micro Devices by 18.2% in the first quarter. Vestmark Advisory Solutions Inc. now owns 29,054 shares of the semiconductor manufacturer’s stock worth $2,985,000 after buying an additional 4,482 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Advanced Micro Devices in the first quarter worth about $468,000. Holderness Investments Co. lifted its position in shares of Advanced Micro Devices by 9.2% in the first quarter. Holderness Investments Co. now owns 9,645 shares of the semiconductor manufacturer’s stock worth $991,000 after buying an additional 815 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Advanced Micro Devices by 69.9% in the first quarter. E Fund Management Co. Ltd. now owns 112,895 shares of the semiconductor manufacturer’s stock worth $11,599,000 after buying an additional 46,439 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of Advanced Micro Devices by 185.3% in the first quarter. Financial Network Wealth Advisors LLC now owns 331 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, 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. Also, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $173.21, for a total value of $1,732,100.00. Following the completion of the transaction, the executive vice president owned 125,505 shares in the company, valued at $21,738,721.05. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Up 5.4%

NASDAQ AMD opened at $184.42 on Thursday. The firm has a market cap of $299.28 billion, a PE ratio of 105.99, a price-to-earnings-growth ratio of 2.07 and a beta of 1.94. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $186.65. The stock’s 50 day simple moving average is $148.18 and its 200 day simple moving average is $119.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.81.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. As a group, sell-side analysts forecast 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 stock buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMD. Barclays boosted their price target on Advanced Micro Devices from $130.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Sanford C. Bernstein boosted their price objective on Advanced Micro Devices from $95.00 to $140.00 and gave the stock a “market perform” rating in a research report on Monday, July 21st. HSBC raised 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. Wells Fargo & Company boosted their price objective on Advanced Micro Devices from $120.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Finally, DZ Bank raised Advanced Micro Devices from a “sell” rating to a “hold” rating and set a $165.00 price objective for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.21.

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.