Canton Hathaway LLC Trims Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Canton Hathaway LLC lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,184 shares of the semiconductor manufacturer's stock after selling 1,990 shares during the period. Canton Hathaway LLC's holdings in Advanced Micro Devices were worth $1,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 worth $18,143,884,000 after acquiring an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after buying an additional 835,413 shares during the period. Fisher Asset Management LLC boosted its position in shares of Advanced Micro Devices by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock valued at $2,909,350,000 after buying an additional 290,784 shares during the period. Norges Bank bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock valued at $2,585,079,000 after buying an additional 1,929,225 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Up 1.1%

Advanced Micro Devices stock traded up $1.45 during mid-day trading on Friday, reaching $128.24. 79,777,415 shares of the company were exchanged, compared to its average volume of 41,681,040. The business has a fifty day moving average of $108.14 and a 200 day moving average of $110.87. 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 firm has a market cap of $207.93 billion, a P/E ratio of 94.29, a PEG ratio of 1.66 and a beta of 1.99. 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 posted its 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 return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMD shares. HSBC raised Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a research note on Friday, June 13th. Citigroup reaffirmed a "neutral" rating and set a $120.00 target price (up previously from $100.00) on shares of Advanced Micro Devices in a research note on Monday, June 9th. Stifel Nicolaus reaffirmed a "buy" rating and set a $132.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Finally, Barclays upped their target price on Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Fifteen research 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $134.61.

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.