Bernard Wealth Management Corp. Cuts Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Bernard Wealth Management Corp. lowered its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 85.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,397 shares of the semiconductor manufacturer's stock after selling 26,073 shares during the quarter. Bernard Wealth Management Corp.'s holdings in Advanced Micro Devices were worth $452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV increased its position in Advanced Micro Devices by 2.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,860 shares of the semiconductor manufacturer's stock valued at $1,219,000 after acquiring an additional 255 shares during the period. CVA Family Office LLC grew its position in Advanced Micro Devices by 8.6% in the 1st quarter. CVA Family Office LLC now owns 3,661 shares of the semiconductor manufacturer's stock worth $376,000 after purchasing an additional 289 shares in the last quarter. Krilogy Financial LLC increased its stake in Advanced Micro Devices by 5.0% in the 1st quarter. Krilogy Financial LLC now owns 21,793 shares of the semiconductor manufacturer's stock valued at $2,239,000 after buying an additional 1,035 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Advanced Micro Devices by 51.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 262,344 shares of the semiconductor manufacturer's stock worth $26,953,000 after buying an additional 88,721 shares during the last quarter. Finally, Everhart Financial Group Inc. grew its holdings in shares of Advanced Micro Devices by 19.8% in the first quarter. Everhart Financial Group Inc. now owns 12,754 shares of the semiconductor manufacturer's stock valued at $1,310,000 after acquiring an additional 2,107 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $11.01 during trading on Monday, hitting $127.17. The company had a trading volume of 76,515,799 shares, compared to its average volume of 41,561,996. The stock has a 50 day simple moving average of $104.51 and a 200 day simple moving average of $111.15. The firm has a market capitalization of $206.19 billion, a P/E ratio of 128.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. 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, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.62 earnings per share. The company's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has approved a share buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on AMD. Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Roth Capital set a $150.00 target price on Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday. Cantor Fitzgerald restated an "overweight" rating on shares of Advanced Micro Devices in a report on Monday, June 9th. Stifel Nicolaus reiterated a "buy" rating and issued a $132.00 price objective on shares of Advanced Micro Devices in a report on Friday. Finally, Mizuho boosted their target price on Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $134.61.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction on 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 in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

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.