Prosperity Consulting Group LLC Sells 2,752 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Prosperity Consulting Group LLC decreased its stake in Advanced Micro Devices, Inc. by 40.8%, holding a total of 3,993 shares valued at $410,000 as of the latest SEC filing.
• Several other institutional investors have increased their holdings, with Brighton Jones LLC's position in AMD rising by 178.2% in the last quarter.
• AMD's board recently approved a $6 billion share buyback plan, indicating confidence in the company's valuation amidst fluctuating stock prices.

Prosperity Consulting Group LLC lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 40.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,993 shares of the semiconductor manufacturer's stock after selling 2,752 shares during the period. Prosperity Consulting Group LLC's holdings in Advanced Micro Devices were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMD. Main Street Financial Solutions LLC increased its holdings in Advanced Micro Devices by 3.9% in the 4th 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 during the period. Peterson Wealth Services grew its holdings in Advanced Micro Devices by 2.9% during the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock worth $375,000 after acquiring an additional 103 shares during the last quarter. Lifeworks Advisors LLC lifted its position in shares of Advanced Micro Devices by 5.6% in the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock worth $203,000 after purchasing an additional 104 shares during the period. Jaffetilchin Investment Partners LLC lifted its position in shares of Advanced Micro Devices by 1.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after purchasing an additional 115 shares during the period. Finally, Alaethes Wealth LLC lifted its position in shares of Advanced Micro Devices by 0.7% during the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after acquiring an additional 115 shares during the period. Institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Benchmark restated a "buy" rating and set a $170.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the company a "buy" rating in a research report on Friday, June 13th. UBS Group increased their price target on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the stock a "buy" rating in a report on Monday. Wedbush reaffirmed an "outperform" rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Morgan Stanley increased their price target on shares of Advanced Micro Devices from $121.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $162.94.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by insiders.

Advanced Micro Devices Stock Up 1.2%

Shares of AMD stock traded up $2.07 during trading hours on Wednesday, reaching $179.51. The company had a trading volume of 63,549,276 shares, compared to its average volume of 49,722,936. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $182.31. The company has a market capitalization of $291.06 billion, a P/E ratio of 131.99, a price-to-earnings-growth ratio of 2.35 and a beta of 2.05. The stock's fifty day simple moving average is $136.04 and its 200 day simple moving average is $115.69.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

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.