Morse Asset Management Inc Sells 21,420 Shares of 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% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMD. Main Street Financial Solutions LLC grew its stake in shares of Advanced Micro Devices by 3.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock worth $314,000 after acquiring an additional 98 shares during the last quarter. Plancorp LLC grew its holdings in shares of Advanced Micro Devices by 2.2% during the fourth quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock valued at $620,000 after buying an additional 112 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in Advanced Micro Devices by 1.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $957,000 after acquiring an additional 115 shares during the last quarter. Alaethes Wealth LLC raised its stake in shares of Advanced Micro Devices by 0.7% in the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock worth $1,891,000 after purchasing an additional 115 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its position in Advanced Micro Devices by 4.3% in the first quarter. Sunflower Bank N.A. now owns 2,808 shares of the semiconductor manufacturer's stock valued at $288,000 after buying an additional 116 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Stock Down 1.3%

Shares of AMD traded down $1.98 during midday trading on Tuesday, hitting $155.02. The company had a trading volume of 38,599,988 shares, compared to its average volume of 41,791,550. The stock has a market cap of $251.35 billion, a price-to-earnings ratio of 113.90, a PEG ratio of 2.08 and a beta of 2.05. The company's 50 day moving average price is $127.67 and its 200 day moving average price is $113.20. 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, Inc. has a 52 week low of $76.48 and a 52 week high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business's revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. On average, equities research 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 initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMD has been the subject of several analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 13th. Susquehanna decreased their price objective on shares of Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group upped their price target on Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. Hsbc Global Res raised Advanced Micro Devices from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Advanced Micro Devices from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Eleven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.68.

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.