Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,369 shares of the semiconductor manufacturer's stock after selling 9,376 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Advanced Micro Devices were worth $5,278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth $65,897,000. Vanguard Group Inc. increased its holdings in shares of Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after buying an additional 1,441,626 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after buying an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. increased its holdings in shares of Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after buying an additional 1,271 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Advanced Micro Devices by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock worth $2,909,350,000 after buying an additional 290,784 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 6.8%

NASDAQ:AMD opened at $138.43 on Wednesday. The firm has a market capitalization of $224.45 billion, a PE ratio of 101.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.99. The stock has a 50 day moving average of $109.71 and a 200-day moving average of $110.79. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its 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 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 business's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. Analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. KeyCorp cut shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Melius raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Monday. Bank of America lifted their target price on Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 13th. Finally, Roth Capital set a $150.00 price target on Advanced Micro Devices and gave the stock a "buy" rating in a research note on Friday, June 13th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.19.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

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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