Cary Street Partners Financial LLC Cuts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Cary Street Partners Financial LLC has reduced its position in Advanced Micro Devices (AMD) by 32.3%, holding 22,568 shares valued at approximately $2.32 million as of the latest SEC filing.
• Analyst ratings for AMD show a consensus of "Moderate Buy" with a significant target price range, including an upgrade from Sanford C. Bernstein raising it from $95 to $140.
• Advanced Micro Devices recently reported earnings per share (EPS) of $0.48, missing estimates, but its revenue of $7.69 billion surpassed expectations and showed a 31.7% year-over-year increase.

Cary Street Partners Financial LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 32.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,568 shares of the semiconductor manufacturer's stock after selling 10,769 shares during the period. Cary Street Partners Financial LLC's holdings in Advanced Micro Devices were worth $2,319,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Main Street Financial Solutions LLC boosted its stake in shares of Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 98 shares in the last quarter. Peterson Wealth Services boosted its stake in shares of Advanced Micro Devices by 2.9% in the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock valued at $375,000 after purchasing an additional 103 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Advanced Micro Devices by 5.6% in the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock valued at $203,000 after purchasing an additional 104 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in shares of Advanced Micro Devices by 1.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock valued at $957,000 after purchasing an additional 115 shares in the last quarter. Finally, Alaethes Wealth LLC boosted its stake in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after purchasing an additional 115 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMD has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Advanced Micro Devices from $120.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. UBS Group raised their price target on shares of Advanced Micro Devices from $150.00 to $210.00 and gave the stock a "buy" rating in a report on Monday, July 28th. DZ Bank upgraded shares of Advanced Micro Devices from a "sell" rating to a "hold" rating and set a $165.00 price target for the company in a report on Thursday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $178.56.

Advanced Micro Devices Trading Up 0.2%

AMD traded up $0.36 during midday trading on Friday, reaching $172.76. 68,723,246 shares of the company's stock traded hands, compared to its average volume of 66,889,100. The firm has a fifty day moving average of $144.55 and a two-hundred day moving average of $118.25. The stock has a market capitalization of $280.36 billion, a price-to-earnings ratio of 99.29, a P/E/G ratio of 2.06 and a beta of 1.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $182.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a return on equity of 7.54% and a net margin of 9.57%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the company posted $0.69 EPS. The firm's revenue was up 31.7% on a year-over-year basis. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

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.