Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 44.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 229,666 shares of the semiconductor manufacturer's stock after selling 181,885 shares during the period. E. Ohman J or Asset Management AB's holdings in Advanced Micro Devices were worth $23,596,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in Advanced Micro Devices during the fourth quarter valued at $25,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $29,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $30,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wedbush reiterated an "outperform" rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Jefferies Financial Group cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their target price for the company from $135.00 to $120.00 in a research report on Thursday, March 27th. Morgan Stanley cut their price objective on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Rosenblatt Securities restated a "buy" rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Argus set a $160.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, February 6th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $132.58.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Stock Up 0.4%

Advanced Micro Devices stock traded up $0.50 during trading on Friday, reaching $116.19. The stock had a trading volume of 26,964,110 shares, compared to its average volume of 41,511,341. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The business has a 50 day moving average price of $101.12 and a 200 day moving average price of $112.29. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The stock has a market cap of $188.39 billion, a PE ratio of 117.36, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is 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.