Essex LLC Cuts Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Essex LLC trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,739 shares of the semiconductor manufacturer's stock after selling 3,620 shares during the period. Advanced Micro Devices makes up approximately 0.9% of Essex LLC's holdings, making the stock its 23rd biggest holding. Essex LLC's holdings in Advanced Micro Devices were worth $4,288,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMD. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Kozak & Associates Inc. lifted its stake in shares of Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $30,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The stock was 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 owns 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 the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on AMD shares. Seaport Res Ptn upgraded Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, April 30th. Melius upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research report on Monday, June 23rd. Wells Fargo & Company lowered 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 report on Thursday, April 17th. Benchmark reiterated a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Finally, Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average target price of $138.19.

Advanced Micro Devices Stock Up 0.1%

Shares of Advanced Micro Devices stock opened at $143.81 on Monday. 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 stock has a market cap of $233.17 billion, a price-to-earnings ratio of 105.74, a PEG ratio of 1.86 and a beta of 1.99. The firm's 50-day moving average is $113.06 and its two-hundred day moving average is $110.94. 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 released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The company's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has approved a stock buyback plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Advanced Micro Devices 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.

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