Somerville Kurt F Trims Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Somerville Kurt F reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,570 shares of the semiconductor manufacturer's stock after selling 3,077 shares during the quarter. Advanced Micro Devices comprises 2.4% of Somerville Kurt F's investment portfolio, making the stock its 18th biggest position. Somerville Kurt F's holdings in Advanced Micro Devices were worth $13,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Greenline Partners LLC bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $28,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at $30,000. Summit Securities Group LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter worth $31,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 200 shares in the last quarter. Finally, American Capital Advisory LLC raised its position in shares of Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 130 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Advanced Micro Devices Trading Up 2.2%

Shares of Advanced Micro Devices stock traded up $3.47 during trading on Thursday, reaching $162.12. 47,644,725 shares of the stock were exchanged, compared to its average volume of 46,725,572. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The firm has a market cap of $262.86 billion, a price-to-earnings ratio of 119.21, a price-to-earnings-growth ratio of 2.10 and a beta of 2.05. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $174.05. The stock's fifty day moving average is $130.31 and its 200 day moving average is $114.02.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The business 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 business's revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. As a group, equities research 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 authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMD shares. Barclays upped their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Susquehanna decreased their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. TD Cowen lifted their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Sanford C. Bernstein boosted their price target on shares of Advanced Micro Devices from $95.00 to $140.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, Bank of America raised their price objective on shares of Advanced Micro Devices from $130.00 to $175.00 in a research report on Wednesday, July 16th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus price target of $154.68.

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.