Baker Chad R Trims Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Baker Chad R lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 24.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,061 shares of the semiconductor manufacturer's stock after selling 26,677 shares during the period. Advanced Micro Devices accounts for 1.8% of Baker Chad R's investment portfolio, making the stock its 24th largest position. Baker Chad R's holdings in Advanced Micro Devices were worth $8,636,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMD. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the fourth quarter worth $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at $29,000. Kozak & Associates Inc. raised its position in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a research report on Thursday, May 8th. Robert W. Baird reduced their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Benchmark restated a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday. Barclays lifted their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Hsbc Global Res upgraded Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average price target of $134.61.

Advanced Micro Devices Stock Up 8.8%

Shares of NASDAQ:AMD traded up $10.23 on Monday, hitting $126.39. 100,425,488 shares of the company's stock were exchanged, compared to its average volume of 41,652,136. The firm's 50-day moving average is $105.48 and its 200 day moving average is $111.08. The company has a market capitalization of $204.93 billion, a PE ratio of 127.67, a P/E/G ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

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, 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 7.42% and a net margin of 6.36%. The business's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.