Patten & Patten Inc. TN Sells 2,182 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Patten & Patten Inc. TN reduced its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,609 shares of the semiconductor manufacturer's stock after selling 2,182 shares during the quarter. Patten & Patten Inc. TN's holdings in Advanced Micro Devices were worth $5,508,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $65,897,000. Vanguard Group Inc. increased its stake in shares of Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. Empire Life Investments Inc. acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $717,000. Union Bancaire Privee UBP SA acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $34,366,000. Finally, bLong Financial LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $1,924,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Price Performance

NASDAQ AMD traded down $2.89 during trading on Thursday, reaching $115.69. 34,020,989 shares of the company traded hands, compared to its average volume of 41,592,088. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The stock's 50 day moving average price is $100.86 and its two-hundred day moving average price is $112.45. The company has a market cap of $187.58 billion, a price-to-earnings ratio of 116.86, a P/E/G ratio of 1.11 and a beta of 1.97. 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 released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The company 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 7.42% and a net margin of 6.36%. The company's quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its board has initiated a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Advanced Micro Devices from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. 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 report on Wednesday, May 7th. HSBC raised shares of Advanced Micro Devices from a "reduce" rating to a "hold" rating in a research report on Tuesday, May 27th. Seaport Res Ptn raised shares of Advanced Micro Devices to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, KeyCorp downgraded shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Fifteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $132.58.

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.