Morse Asset Management Inc Has $397,000 Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Morse Asset Management Inc reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 84.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,865 shares of the semiconductor manufacturer's stock after selling 21,420 shares during the quarter. Morse Asset Management Inc's holdings in Advanced Micro Devices were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMD. Greenline Partners LLC bought a new position in Advanced Micro Devices in the fourth quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of 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 valued at $28,000 after acquiring an additional 200 shares during the period. American Capital Advisory LLC lifted its holdings in shares of Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares during the period. Kozak & Associates Inc. lifted its holdings in shares of Advanced Micro Devices by 67.6% during the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on AMD. Wells Fargo & Company lifted their price objective on Advanced Micro Devices from $120.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Benchmark reaffirmed a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. UBS Group reduced their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Melius Research raised shares of Advanced Micro Devices from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $110.00 to $175.00 in a research report on Monday, June 23rd. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average price target of $154.68.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Stock Up 2.3%

Shares of AMD traded up $3.49 during mid-day trading on Wednesday, hitting $158.21. 23,529,142 shares of the company's stock were exchanged, compared to its average volume of 41,746,484. The firm has a fifty day moving average of $127.67 and a two-hundred day moving average of $113.20. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $174.05. The stock has a market cap of $256.52 billion, a price-to-earnings ratio of 116.27, a P/E/G ratio of 2.08 and a beta of 2.05. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

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

Advanced Micro Devices declared that its board has approved a share repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Advanced Micro Devices 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.