Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock Position Reduced by Sheaff Brock Investment Advisors LLC

Key Points

• Sheaff Brock Investment Advisors LLC reduced its position in Advanced Micro Devices (AMD) by 29.0%, selling 12,554 shares, and now holds 30,764 shares valued at approximately $3.16 million.
• Advanced Micro Devices reported Q1 earnings of $0.96 EPS exceeding estimates of $0.93, with revenues of $7.44 billion, marking a 35.9% year-over-year increase.
• Various analysts have recently updated their ratings for AMD, with Rosenblatt Securities and HSBC rating the stock as a "buy" and setting target prices of $200.00 and $200.00 respectively.

Sheaff Brock Investment Advisors LLC lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 29.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,764 shares of the semiconductor manufacturer's stock after selling 12,554 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Advanced Micro Devices were worth $3,161,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 200 shares during the period. American Capital Advisory LLC increased its position in Advanced Micro Devices by 90.3% in the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares during the period. Kozak & Associates Inc. increased its position in Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $30,000. Institutional investors own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

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 transaction of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AMD has been the topic of several analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a research report on Friday, June 13th. HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 target price on the stock in a research report on Thursday, July 10th. Roth Capital set a $150.00 target price on Advanced Micro Devices and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Jefferies Financial Group lifted their price target on Advanced Micro Devices from $100.00 to $160.00 in a research report on Wednesday, July 16th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and an average price target of $154.68.

Advanced Micro Devices Price Performance

AMD opened at $166.47 on Monday. The stock has a market cap of $269.91 billion, a price-to-earnings ratio of 122.40, a PEG ratio of 2.20 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 company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $132.24 and a 200 day moving average price of $114.41.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm 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 for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. Analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase 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 typically a sign that the company's board of directors believes its shares are undervalued.

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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