Union Bancaire Privee UBP SA Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Union Bancaire Privee UBP SA trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 60.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,122 shares of the semiconductor manufacturer’s stock after selling 174,758 shares during the period. Union Bancaire Privee UBP SA’s holdings in Advanced Micro Devices were worth $11,361,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Advanced Micro Devices by 1.7% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 9,500 shares of the semiconductor manufacturer’s stock valued at $976,000 after purchasing an additional 160 shares during the period. Bellecapital International Ltd. grew its holdings in shares of Advanced Micro Devices by 7.8% during the 1st quarter. Bellecapital International Ltd. now owns 166,151 shares of the semiconductor manufacturer’s stock worth $17,070,000 after acquiring an additional 12,065 shares during the period. Net Worth Advisory Group grew its position in shares of Advanced Micro Devices by 136.7% in the 1st quarter. Net Worth Advisory Group now owns 7,632 shares of the semiconductor manufacturer’s stock worth $784,000 after buying an additional 4,408 shares during the period. Tran Capital Management L.P. increased its stake in shares of Advanced Micro Devices by 8.6% during the first quarter. Tran Capital Management L.P. now owns 3,974 shares of the semiconductor manufacturer’s stock valued at $408,000 after purchasing an additional 315 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its stake in Advanced Micro Devices by 39.4% during the first quarter. Simon Quick Advisors LLC now owns 8,201 shares of the semiconductor manufacturer’s stock valued at $843,000 after buying an additional 2,316 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AMD. Bank of America increased their target price on Advanced Micro Devices from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Dbs Bank downgraded Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Melius Research set a $110.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Wedbush reissued an “outperform” rating and issued a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, KeyCorp cut Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 8th. Fifteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.23.

Advanced Micro Devices Trading Down 1.7%

Shares of AMD stock opened at $121.14 on Thursday. The company has a market capitalization of $196.42 billion, a price-to-earnings ratio of 122.36, a PEG ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $103.06 and a 200 day moving average price of $111.80.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. Advanced Micro Devices’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. Research 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 approved a share repurchase program on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred 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 now owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

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.