Hexagon Capital Partners LLC Decreases Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hexagon Capital Partners LLC reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 54.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,750 shares of the semiconductor manufacturer's stock after selling 2,095 shares during the period. Hexagon Capital Partners LLC's holdings in Advanced Micro Devices were worth $180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Advanced Micro Devices during the 4th quarter valued at about $2,867,193,000. Toronto Dominion Bank boosted its stake in shares of Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after buying an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Advanced Micro Devices by 2,265.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after buying an additional 2,889,739 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Advanced Micro Devices by 12,097.8% in the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after buying an additional 1,992,508 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup upped their target price on Advanced Micro Devices from $120.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday. Mizuho upped their target price on Advanced Micro Devices from $135.00 to $152.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. HSBC upgraded Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research note on Tuesday, May 27th. Jefferies Financial Group cut Advanced Micro Devices from a "buy" rating to a "hold" rating and reduced their price target for the stock from $135.00 to $120.00 in a report on Thursday, March 27th. Finally, Morgan Stanley reduced their price target on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $139.55.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was 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 directly owned 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Trading Up 3.0%

AMD stock traded up $4.08 during midday trading on Tuesday, hitting $138.88. 13,458,783 shares of the company's stock were exchanged, compared to its average volume of 42,462,410. The business has a 50-day simple moving average of $118.61 and a two-hundred day simple moving average of $111.56. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $225.18 billion, a PE ratio of 102.12, a P/E/G ratio of 1.78 and a beta of 2.05. 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 results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the business posted $0.62 earnings per share. The company's quarterly revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts predict 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 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership 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.