Sunbelt Securities Inc. Lowers Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sunbelt Securities Inc. cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 83.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,239 shares of the semiconductor manufacturer's stock after selling 15,815 shares during the quarter. Sunbelt Securities Inc.'s holdings in Advanced Micro Devices were worth $333,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at $65,897,000. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock valued at $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the period. Nicolet Bankshares Inc. raised its holdings in shares of Advanced Micro Devices by 56.4% during the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock valued at $426,000 after purchasing an additional 1,271 shares during the period. Finally, Fisher Asset Management LLC boosted its position 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 purchasing an additional 290,784 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Performance

NASDAQ:AMD traded up $2.41 during trading hours on Wednesday, reaching $138.52. The stock had a trading volume of 38,952,453 shares, compared to its average volume of 42,190,333. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The stock has a 50 day simple moving average of $115.18 and a 200 day simple moving average of $111.22. The stock has a market cap of $224.60 billion, a P/E ratio of 101.85, a price-to-earnings-growth ratio of 1.83 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for 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 firm's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMD. Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. HSBC upgraded Advanced Micro Devices from a "reduce" rating to a "hold" rating in a report on Tuesday, May 27th. Barclays increased their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, DZ Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.19.

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.