Beacon Investment Advisory Services Inc. Trims Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Beacon Investment Advisory Services Inc. decreased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 18.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,690 shares of the semiconductor manufacturer's stock after selling 42,833 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Advanced Micro Devices were worth $19,591,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 200 shares during the last quarter. American Capital Advisory LLC increased its position in Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 130 shares in the last quarter. Kozak & Associates Inc. raised its stake in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup upped their price objective on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Sanford C. Bernstein raised their price target on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a report on Monday. UBS Group cut their target price on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a research note on Thursday, May 8th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $154.68.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded up $3.47 during midday trading on Thursday, hitting $162.12. The company had a trading volume of 47,644,725 shares, compared to its average volume of 46,725,572. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $174.05. The stock has a market cap of $262.86 billion, a price-to-earnings ratio of 119.21, a price-to-earnings-growth ratio of 2.10 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 business's 50-day simple moving average is $130.31 and its 200-day simple moving average is $114.02.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has approved a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board 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.