Capital Asset Advisory Services LLC Lowers Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Capital Asset Advisory Services LLC reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 60.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,968 shares of the semiconductor manufacturer's stock after selling 2,983 shares during the period. Capital Asset Advisory Services LLC's holdings in Advanced Micro Devices were worth $203,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices in the fourth quarter worth approximately $29,000. Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices in the fourth quarter worth approximately $30,000. Finally, Summit Securities Group LLC purchased a new position in Advanced Micro Devices in the fourth quarter worth approximately $31,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded down $2.89 during mid-day trading on Thursday, hitting $115.69. 34,020,989 shares of the stock were exchanged, compared to its average volume of 41,592,088. The stock's fifty day simple moving average is $100.86 and its two-hundred day simple moving average is $112.45. The stock has a market capitalization of $187.58 billion, a price-to-earnings ratio of 116.86, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month 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 issued 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 company had revenue of $7.44 billion for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.62 earnings per share. On average, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has initiated a share buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMD. Truist Financial set a $130.00 price objective on Advanced Micro Devices in a research report on Wednesday, February 5th. UBS Group lowered their price objective on 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. Jefferies Financial Group lowered Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Dbs Bank lowered Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Fifteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.58.

Advanced Micro Devices Company 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.