Bar Harbor Wealth Management Sells 6,669 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bar Harbor Wealth Management lessened its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 28.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,396 shares of the semiconductor manufacturer's stock after selling 6,669 shares during the period. Bar Harbor Wealth Management's holdings in Advanced Micro Devices were worth $1,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMD. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices in the 4th quarter valued at about $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $29,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $30,000. Finally, Summit Securities Group LLC bought a new position in Advanced Micro Devices in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Down 2.0%

AMD traded down $2.34 on Friday, reaching $116.16. 39,620,655 shares of the company traded hands, compared to its average volume of 41,413,918. The company has a market cap of $188.34 billion, a price-to-earnings ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The stock's 50 day moving average price is $104.51 and its 200-day moving average price is $111.15. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the business posted $0.62 earnings per share. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, sell-side analysts expect 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 initiated a share 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMD shares. Morgan Stanley lowered their target price on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Sanford C. Bernstein dropped their target price on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. HSBC raised shares of Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Finally, Benchmark restated a "buy" rating and issued a $170.00 price target on shares of Advanced Micro Devices in a research note on Friday. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus target price of $134.13.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company's stock.

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.