Mirador Capital Partners LP Trims Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Mirador Capital Partners LP decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 86.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,454 shares of the semiconductor manufacturer's stock after selling 22,283 shares during the period. Mirador Capital Partners LP's holdings in Advanced Micro Devices were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Wealth Asset Management LLC boosted its holdings in Advanced Micro Devices by 4.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 15,294 shares of the semiconductor manufacturer's stock worth $1,571,000 after buying an additional 673 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Advanced Micro Devices by 0.6% in the first quarter. Rhumbline Advisers now owns 3,014,359 shares of the semiconductor manufacturer's stock valued at $309,695,000 after acquiring an additional 17,089 shares in the last quarter. Abner Herrman & Brock LLC boosted its stake in shares of Advanced Micro Devices by 0.7% in the first quarter. Abner Herrman & Brock LLC now owns 145,981 shares of the semiconductor manufacturer's stock worth $14,998,000 after acquiring an additional 948 shares during the last quarter. Bowman & Co S.C. increased its position in shares of Advanced Micro Devices by 6.3% during the first quarter. Bowman & Co S.C. now owns 10,092 shares of the semiconductor manufacturer's stock worth $1,037,000 after purchasing an additional 594 shares in the last quarter. Finally, IVC Wealth Advisors LLC increased its position in shares of Advanced Micro Devices by 9.1% during the first quarter. IVC Wealth Advisors LLC now owns 3,229 shares of the semiconductor manufacturer's stock worth $332,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMD. Robert W. Baird lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Truist Financial set a $130.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, February 5th. Loop Capital decreased their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Bank of America upped their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Raymond James reaffirmed 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. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $132.58.

Advanced Micro Devices Stock Up 2.3%

Shares of NASDAQ AMD traded up $2.68 during midday trading on Tuesday, hitting $117.31. The company's stock had a trading volume of 37,013,104 shares, compared to its average volume of 41,834,794. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market capitalization of $190.21 billion, a price-to-earnings ratio of 118.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. The business's fifty day simple moving average is $100.34 and its two-hundred day simple moving average is $112.37. 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 issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter last year, the company posted $0.62 EPS. The firm's revenue was up 35.9% compared to the same quarter last year. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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