Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services Inc. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.0%, owning 26,119 shares valued at approximately $2.68 million after selling 1,677 shares in the first quarter.
• Advanced Micro Devices reported a 35.9% year-over-year increase in revenue, with earnings per share (EPS) of $0.96 for the quarter, exceeding estimates.
• The company has authorized a $6.00 billion stock repurchase plan, indicative of management's belief in the undervaluation of their shares.

Meeder Advisory Services Inc. lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,119 shares of the semiconductor manufacturer's stock after selling 1,677 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Advanced Micro Devices were worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in AMD. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $28,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $30,000. Summit Securities Group LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $31,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position 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 worth $28,000 after purchasing an additional 200 shares during the last quarter. Finally, American Capital Advisory LLC raised its position 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 worth $28,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analysts Set New Price Targets

AMD has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Advanced Micro Devices from $100.00 to $160.00 in a research report on Wednesday, July 16th. HSBC upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 price target for the company in a report on Thursday, July 10th. KeyCorp downgraded Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Dbs Bank downgraded Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.94.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Down 2.8%

Shares of Advanced Micro Devices stock traded down $4.86 during trading on Friday, reaching $171.45. The company had a trading volume of 59,534,676 shares, compared to its average volume of 44,580,711. The company has a market cap of $277.99 billion, a price-to-earnings ratio of 126.11, a price-to-earnings-growth ratio of 2.37 and a beta of 2.05. The firm's fifty day moving average is $137.35 and its 200-day moving average is $116.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50.

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

Advanced Micro Devices announced that its board has authorized a stock repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy 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 shares are undervalued.

Advanced Micro Devices Company 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.