Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Marco Investment Management LLC

Key Points

• Marco Investment Management LLC has reduced its stake in Advanced Micro Devices (AMD) by 49.6%, now holding 30,442 shares valued at approximately $3.13 million.
• Advanced Micro Devices reported earnings of $0.96 per share for its last quarter, exceeding expectations and showing a 35.9% revenue increase year-over-year.
• The company's board has authorized a $6 billion stock repurchase plan, indicating confidence in its current stock valuation.

Marco Investment Management LLC trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 49.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,442 shares of the semiconductor manufacturer's stock after selling 30,000 shares during the period. Marco Investment Management LLC's holdings in Advanced Micro Devices were worth $3,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Mpwm Advisory Solutions LLC bought a new position in Advanced Micro Devices in the 4th quarter worth approximately $30,000. Summit Securities Group LLC bought a new position in Advanced Micro Devices in the 4th quarter worth approximately $31,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Finally, American Capital Advisory LLC boosted its holdings in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 130 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark reissued a "buy" rating and set a $170.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. TD Cowen increased their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Melius upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research report on Monday, June 23rd. Robert W. Baird lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Mizuho increased their target price on Advanced Micro Devices from $152.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus target price of $162.94.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the transaction, the executive vice president owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Advanced Micro Devices Price Performance

NASDAQ AMD traded down $4.86 during trading hours on Friday, hitting $171.45. 59,534,676 shares of the company's stock traded hands, compared to its average volume of 44,580,711. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $182.50. The company has a market capitalization of $277.99 billion, a PE ratio of 126.11, a PEG ratio of 2.37 and a beta of 2.05. 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's 50-day moving average is $137.35 and its 200-day moving average is $116.10.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. Equities analysts forecast 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 stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are 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.