Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Annis Gardner Whiting Capital Advisors LLC

Key Points

• Annis Gardner Whiting Capital Advisors LLC reduced its stake in Advanced Micro Devices by 65.7%, now owning 2,518 shares valued at $259,000 after selling 4,826 shares during the first quarter.
• Advanced Micro Devices reported an earnings per share (EPS) of $0.96 for the recent quarter, exceeding analysts' expectations, with revenues of $7.44 billion, up 35.9% year-over-year.
• The company's Board of Directors has initiated a $6.00 billion stock buyback program, signaling confidence in the stock’s value amid its current position in the market.

Annis Gardner Whiting Capital Advisors LLC lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 65.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,518 shares of the semiconductor manufacturer's stock after selling 4,826 shares during the period. Annis Gardner Whiting Capital Advisors LLC's holdings in Advanced Micro Devices were worth $259,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Ithaka Group LLC raised its stake in Advanced Micro Devices by 0.3% during the 1st quarter. Ithaka Group LLC now owns 79,718 shares of the semiconductor manufacturer's stock valued at $8,190,000 after purchasing an additional 215 shares during the period. iA Global Asset Management Inc. boosted its holdings in shares of Advanced Micro Devices by 2.0% during the first quarter. iA Global Asset Management Inc. now owns 178,379 shares of the semiconductor manufacturer's stock worth $18,327,000 after purchasing an additional 3,465 shares during the period. LCM Capital Management Inc boosted its holdings in shares of Advanced Micro Devices by 8.5% during the first quarter. LCM Capital Management Inc now owns 8,407 shares of the semiconductor manufacturer's stock worth $864,000 after purchasing an additional 662 shares during the period. Maxi Investments CY Ltd increased its stake in shares of Advanced Micro Devices by 114.0% in the first quarter. Maxi Investments CY Ltd now owns 76,220 shares of the semiconductor manufacturer's stock worth $7,831,000 after acquiring an additional 40,602 shares during the last quarter. Finally, Empower Advisory Group LLC increased its stake in shares of Advanced Micro Devices by 3.1% in the first quarter. Empower Advisory Group LLC now owns 26,493 shares of the semiconductor manufacturer's stock worth $2,722,000 after acquiring an additional 787 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 3.0%

NASDAQ:AMD opened at $176.78 on Tuesday. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $182.50. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a market cap of $286.63 billion, a price-to-earnings ratio of 129.99, a PEG ratio of 2.27 and a beta of 1.94. The stock has a 50-day moving average price of $139.91 and a two-hundred day moving average price of $116.83.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations 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 revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley increased their target price on shares of Advanced Micro Devices from $121.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Susquehanna increased their target price on shares of Advanced Micro Devices from $135.00 to $210.00 and gave the stock a "positive" rating in a research report on Wednesday, July 30th. Finally, UBS Group increased their target price on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $162.94.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 1,713,710 shares in the company, 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 the SEC website. Company insiders own 0.06% of the company's stock.

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.

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