Gradient Investments LLC Sells 126,322 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Gradient Investments LLC lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 97.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,161 shares of the semiconductor manufacturer's stock after selling 126,322 shares during the quarter. Gradient Investments LLC's holdings in Advanced Micro Devices were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. TFG Advisers LLC grew its holdings in shares of Advanced Micro Devices by 2.0% during the 4th quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer's stock worth $573,000 after purchasing an additional 92 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in shares of Advanced Micro Devices by 4.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 2,304 shares of the semiconductor manufacturer's stock worth $278,000 after buying an additional 97 shares during the period. L.M. Kohn & Company increased its holdings in shares of Advanced Micro Devices by 1.4% during the fourth quarter. L.M. Kohn & Company now owns 6,973 shares of the semiconductor manufacturer's stock valued at $842,000 after acquiring an additional 97 shares in the last quarter. Main Street Financial Solutions LLC lifted its position in 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 acquiring an additional 98 shares in the last quarter. Finally, BCM Advisors LLC raised its holdings in shares of Advanced Micro Devices by 0.9% in the fourth quarter. BCM Advisors LLC now owns 12,197 shares of the semiconductor manufacturer's stock valued at $1,366,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 0.4%

Shares of NASDAQ:AMD traded up $0.50 during trading on Friday, hitting $116.19. 26,964,110 shares of the company's stock traded hands, compared to its average volume of 41,498,489. The company has a market cap of $188.39 billion, a price-to-earnings ratio of 117.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The company has a 50-day moving average price of $101.39 and a 200-day moving average price of $112.13. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMD shares. Stifel Nicolaus set a $132.00 price target on shares of Advanced Micro Devices in a research report on Monday, April 28th. Dbs Bank downgraded Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Robert W. Baird dropped their price target on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Evercore ISI lowered their price target on shares of Advanced Micro Devices from $147.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, TD Cowen lifted their target price on shares of Advanced Micro Devices from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus price target of $132.58.

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.