Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 97.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,265 shares of the semiconductor manufacturer's stock after selling 578,466 shares during the period. DAVENPORT & Co LLC's holdings in Advanced Micro Devices were worth $1,671,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Provident Co of the Employees of the Hebrew University LTD acquired a new stake in Advanced Micro Devices during the 1st quarter worth $1,301,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Advanced Micro Devices by 7.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 251,900 shares of the semiconductor manufacturer's stock valued at $25,880,000 after purchasing an additional 17,032 shares in the last quarter. Lansing Street Advisors increased its holdings in shares of Advanced Micro Devices by 8.0% in the 1st quarter. Lansing Street Advisors now owns 5,196 shares of the semiconductor manufacturer's stock valued at $534,000 after purchasing an additional 386 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Advanced Micro Devices by 17.6% during the first quarter. Cidel Asset Management Inc. now owns 2,093 shares of the semiconductor manufacturer's stock worth $215,000 after buying an additional 313 shares in the last quarter. Finally, Clear Creek Financial Management LLC grew its holdings in shares of Advanced Micro Devices by 82.2% during the first quarter. Clear Creek Financial Management LLC now owns 16,277 shares of the semiconductor manufacturer's stock worth $1,672,000 after buying an additional 7,343 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMD. Citigroup reiterated a "neutral" rating and set a $120.00 price target (up from $100.00) on shares of Advanced Micro Devices in a report on Monday, June 9th. Wedbush restated an "outperform" rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Mizuho boosted their target price on shares of Advanced Micro Devices from $135.00 to $152.00 and gave the company an "outperform" rating in a report on Thursday. Benchmark restated a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Finally, KeyCorp downgraded shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average price target of $138.74.

Advanced Micro Devices Stock Down 0.4%

AMD traded down $0.59 during trading on Friday, hitting $137.93. The company had a trading volume of 28,645,993 shares, compared to its average volume of 42,055,866. The company has a market cap of $223.64 billion, a PE ratio of 101.42, a P/E/G ratio of 1.78 and a beta of 2.05. The business has a 50-day moving average of $117.84 and a 200-day moving average of $111.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the prior year, the company posted $0.62 earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has approved a stock repurchase program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign 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 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 completion of the sale, the executive vice president owned 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by insiders.

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.