New Millennium Group LLC Buys 13,507 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

New Millennium Group LLC raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 380.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 17,054 shares of the semiconductor manufacturer's stock after purchasing an additional 13,507 shares during the quarter. Advanced Micro Devices accounts for about 1.2% of New Millennium Group LLC's investment portfolio, making the stock its 21st biggest position. New Millennium Group LLC's holdings in Advanced Micro Devices were worth $1,752,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Smith Salley Wealth Management increased its stake in Advanced Micro Devices by 6.9% in the first quarter. Smith Salley Wealth Management now owns 1,991 shares of the semiconductor manufacturer's stock valued at $205,000 after acquiring an additional 128 shares during the period. Koshinski Asset Management Inc. increased its stake in Advanced Micro Devices by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,937 shares of the semiconductor manufacturer's stock valued at $507,000 after acquiring an additional 175 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Advanced Micro Devices by 277.8% in 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. Westside Investment Management Inc. increased its stake in Advanced Micro Devices by 73.5% in the first quarter. Westside Investment Management Inc. now owns 10,190 shares of the semiconductor manufacturer's stock valued at $1,047,000 after acquiring an additional 4,316 shares during the period. Finally, Canandaigua National Bank & Trust Co. increased its stake in Advanced Micro Devices by 27.9% in the first quarter. Canandaigua National Bank & Trust Co. now owns 7,306 shares of the semiconductor manufacturer's stock valued at $751,000 after acquiring an additional 1,594 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Trading Down 0.6%

NASDAQ AMD traded down $0.78 during trading hours on Thursday, hitting $137.74. The company's stock had a trading volume of 28,537,131 shares, compared to its average volume of 42,759,047. The stock has a fifty day moving average of $116.14 and a 200 day moving average of $111.41. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The firm has a market capitalization of $223.33 billion, a P/E ratio of 101.31, a PEG ratio of 1.76 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 posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The company 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 business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a stock buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMD. Wells Fargo & Company lowered their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Dbs Bank cut shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Jefferies Financial Group cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Stifel Nicolaus reaffirmed a "buy" rating and set a $132.00 price objective on shares of Advanced Micro Devices in a research note on Friday, June 13th. Finally, Loop Capital decreased their price objective 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. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average price target of $138.74.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

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.