Chevy Chase Trust Holdings LLC Sells 2,033 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Chevy Chase Trust Holdings LLC reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 850,736 shares of the semiconductor manufacturer's stock after selling 2,033 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Advanced Micro Devices worth $87,405,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Greenline Partners LLC acquired a new position in Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth approximately $29,000. Kozak & Associates Inc. boosted its holdings in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after acquiring an additional 123 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $31,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Price Performance

AMD stock traded up $4.97 during trading on Wednesday, reaching $143.40. 74,286,621 shares of the company were exchanged, compared to its average volume of 42,035,126. The company has a market capitalization of $232.51 billion, a price-to-earnings ratio of 105.44, a P/E/G ratio of 1.67 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The company has a 50-day moving average of $109.71 and a two-hundred day moving average of $110.79. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results 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. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The company's revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, equities analysts predict 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 repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AMD has been the subject of several research reports. Melius raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a report on Monday. Wedbush reissued an "outperform" rating and set a $120.00 target price (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on shares of 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. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Morgan Stanley lowered their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $138.19.

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.