Boltwood Capital Management Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Boltwood Capital Management boosted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 182.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,827 shares of the semiconductor manufacturer's stock after acquiring an additional 4,414 shares during the quarter. Boltwood Capital Management's holdings in Advanced Micro Devices were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $29,000. Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $30,000. Finally, Summit Securities Group LLC purchased a new position in Advanced Micro Devices in the 4th quarter valued at approximately $31,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Down 2.4%

Advanced Micro Devices stock traded down $2.89 during midday trading on Thursday, reaching $115.69. The stock had a trading volume of 34,020,989 shares, compared to its average volume of 41,592,088. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The stock has a market capitalization of $187.58 billion, a PE ratio of 116.86, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The stock's 50-day simple moving average is $100.86 and its 200 day simple moving average is $112.45.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the company posted $0.62 earnings per share. The firm's revenue was up 35.9% compared to the same quarter last year. Analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $120.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Bank of America raised their price objective 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. Argus set a $160.00 price objective on Advanced Micro Devices in a research note on Thursday, February 6th. Sanford C. Bernstein dropped their price target on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $132.58.

Advanced Micro Devices Company 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.