Hartford Investment Management Co. Trims Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hartford Investment Management Co. decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,869 shares of the semiconductor manufacturer's stock after selling 1,429 shares during the period. Hartford Investment Management Co.'s holdings in Advanced Micro Devices were worth $10,158,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Toronto Dominion Bank boosted its position in Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. lifted its position in shares of Advanced Micro Devices by 56.4% during the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock valued at $426,000 after buying an additional 1,271 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after buying an additional 29,825 shares during the last quarter. Heritage Trust Co bought a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $804,000. Finally, Valicenti Advisory Services Inc. grew its position in shares of Advanced Micro Devices by 4.0% in the 1st quarter. Valicenti Advisory Services Inc. now owns 76,826 shares of the semiconductor manufacturer's stock worth $7,893,000 after buying an additional 2,944 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Down 1.8%

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AMD opened at $176.31 on Friday. The firm has a market capitalization of $285.87 billion, a price-to-earnings ratio of 129.64, a price-to-earnings-growth ratio of 2.37 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The company's 50 day simple moving average is $137.35 and its two-hundred day simple moving average is $116.10. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm 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 8.03% and a return on equity of 8.30%. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. Analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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Advanced Micro Devices announced that its board has authorized a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMD shares. Wells Fargo & Company increased their target price on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Jefferies Financial Group increased their price objective on Advanced Micro Devices from $100.00 to $160.00 in a report on Wednesday, July 16th. Mizuho boosted their target price on Advanced Micro Devices from $152.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Stifel Nicolaus reaffirmed a "buy" rating and set a $132.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $162.94.

Get Our Latest Stock Report on Advanced Micro Devices

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.

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