Hartford Investment Management Co. Sells 1,429 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Hartford Investment Management Co. reduced its stake in Advanced Micro Devices, Inc. by 1.4% in the first quarter, holding 98,869 shares valued at approximately $10.16 million.
• Toronto Dominion Bank significantly increased its position in AMD by 443.3% during the fourth quarter, acquiring over 4.46 million additional shares.
• Recent updates from analysts show a positive sentiment towards AMD, with multiple firms raising their target prices, including Wells Fargo increasing theirs to $185.00.

Hartford Investment Management Co. reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,869 shares of the semiconductor manufacturer's stock after selling 1,429 shares during the period. Hartford Investment Management Co.'s holdings in Advanced Micro Devices were worth $10,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMD. Main Street Financial Solutions LLC boosted its stake in shares of Advanced Micro Devices by 3.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 98 shares during the period. Peterson Wealth Services boosted its stake in shares of Advanced Micro Devices by 2.9% during the first quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer's stock valued at $375,000 after purchasing an additional 103 shares during the period. Lifeworks Advisors LLC boosted its stake in shares of Advanced Micro Devices by 5.6% during the first quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer's stock valued at $203,000 after purchasing an additional 104 shares during the period. Jaffetilchin Investment Partners LLC boosted its stake in shares of Advanced Micro Devices by 1.5% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock valued at $957,000 after purchasing an additional 115 shares during the period. Finally, Alaethes Wealth LLC boosted its stake in shares of Advanced Micro Devices by 0.7% during the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after purchasing an additional 115 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMD shares. Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird cut their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. DZ Bank cut shares of Advanced Micro Devices from a "buy" rating to a "sell" rating and set a $150.00 price target on the stock. in a report on Wednesday. Melius Research upgraded shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their price target for the company from $110.00 to $175.00 in a report on Monday, June 23rd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $162.94.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Down 2.6%

Shares of AMD traded down $4.61 during trading hours on Friday, hitting $171.70. The company had a trading volume of 74,927,695 shares, compared to its average volume of 53,158,520. The firm has a fifty day moving average price of $138.58 and a 200-day moving average price of $116.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The stock has a market capitalization of $278.39 billion, a price-to-earnings ratio of 126.25, a P/E/G ratio of 2.33 and a beta of 1.94. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $182.50.

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, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has approved a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are 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.