Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,296,508 shares of the semiconductor manufacturer's stock after selling 277,407 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of Advanced Micro Devices worth $1,057,863,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMD. Main Street Financial Solutions LLC boosted its stake in shares of Advanced Micro Devices by 3.9% in the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after buying an additional 98 shares in the last quarter. Plancorp LLC boosted its stake in shares of Advanced Micro Devices by 2.2% in the fourth quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock valued at $620,000 after buying an additional 112 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in shares of Advanced Micro Devices by 1.5% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock valued at $957,000 after buying an additional 115 shares in the last quarter. Alaethes Wealth LLC raised its holdings in Advanced Micro Devices by 0.7% during the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after purchasing an additional 115 shares during the last quarter. Finally, Sunflower Bank N.A. raised its holdings in Advanced Micro Devices by 4.3% during the first quarter. Sunflower Bank N.A. now owns 2,808 shares of the semiconductor manufacturer's stock worth $288,000 after purchasing an additional 116 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company'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 completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $137.93 on Friday. The firm has a market capitalization of $223.64 billion, a PE ratio of 101.42, a P/E/G ratio of 1.78 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 has a 50-day moving average of $117.84 and a two-hundred day moving average of $111.58. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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 company had revenue of $7.44 billion during 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 firm's revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, research analysts forecast 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 authorized a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research reports. Bank of America lifted their price objective on Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Stifel Nicolaus reaffirmed a "buy" rating and set a $132.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Melius raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Monday, June 23rd. Susquehanna reduced their price objective on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Finally, Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a "buy" rating in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $138.74.

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.

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