Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Jessup Wealth Management Inc

Jessup Wealth Management Inc grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 14.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,774 shares of the semiconductor manufacturer's stock after purchasing an additional 9,434 shares during the quarter. Advanced Micro Devices makes up approximately 3.2% of Jessup Wealth Management Inc's holdings, making the stock its 10th biggest holding. Jessup Wealth Management Inc's holdings in Advanced Micro Devices were worth $7,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Greenline Partners LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $28,000. Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $30,000. Summit Securities Group LLC acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $31,000. Farmers & Merchants Trust Co of Chambersburg PA raised 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 period. Finally, American Capital Advisory LLC raised its stake in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMD. Dbs Bank lowered shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley decreased their target price 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. Bank of America upped their target price on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Mizuho upped their target price on shares of Advanced Micro Devices from $135.00 to $152.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Raymond James Financial restated an "outperform" rating and issued a $120.00 target price (down previously from $150.00) on shares of Advanced Micro Devices in a research 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 given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $139.55.

Insider Buying and Selling

In other Advanced Micro Devices 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 transaction of $1,670,725.00. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Down 2.3%

Advanced Micro Devices stock traded down $3.11 during midday trading on Monday, reaching $134.80. The stock had a trading volume of 37,302,007 shares, compared to its average volume of 42,037,031. The firm's fifty day simple moving average is $117.84 and its two-hundred day simple moving average is $111.46. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. 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 firm has a market cap of $218.56 billion, a price-to-earnings ratio of 99.12, a PEG ratio of 1.78 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the business posted $0.62 EPS. The company's revenue was up 35.9% on a year-over-year basis. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign 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.