Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 53,609 shares of the semiconductor manufacturer's stock after selling 2,182 shares during the period. Patten & Patten Inc. TN's holdings in Advanced Micro Devices were worth $5,508,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Republic Capital LLC boosted its position in shares of Advanced Micro Devices by 3.4% during the 1st quarter. New Republic Capital LLC now owns 3,892 shares of the semiconductor manufacturer's stock worth $400,000 after purchasing an additional 128 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its stake in shares of Advanced Micro Devices by 11.6% during the 1st quarter. Lazard Freres Gestion S.A.S. now owns 45,430 shares of the semiconductor manufacturer's stock worth $4,667,000 after purchasing an additional 4,720 shares during the last quarter. Norden Group LLC increased its stake in shares of Advanced Micro Devices by 23.4% during the 1st quarter. Norden Group LLC now owns 7,994 shares of the semiconductor manufacturer's stock worth $821,000 after purchasing an additional 1,516 shares during the last quarter. Vantage Financial Partners LLC grew its position in shares of Advanced Micro Devices by 18.5% during the 1st quarter. Vantage Financial Partners LLC now owns 2,717 shares of the semiconductor manufacturer's stock valued at $279,000 after purchasing an additional 425 shares in the last quarter. Finally, Brio Consultants LLC purchased a new position in shares of Advanced Micro Devices during the 1st quarter valued at $4,537,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMD. UBS Group dropped their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating on shares of Advanced Micro Devices in a report on Wednesday, May 14th. KeyCorp downgraded shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Stifel Nicolaus set a $132.00 price target on shares of Advanced Micro Devices in a research note on Monday, April 28th. Finally, Wedbush restated an "outperform" rating and issued a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $132.58.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Advanced Micro Devices Stock Performance

AMD traded up $0.50 during trading on Friday, hitting $116.19. The company's stock had a trading volume of 26,964,110 shares, compared to its average volume of 41,498,489. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The firm has a market cap of $188.39 billion, a PE ratio of 117.36, a P/E/G ratio of 1.11 and a beta of 1.99. The business's 50 day simple moving average is $101.39 and its 200-day simple moving average is $111.78.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data 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 firm 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 6.36% and a return on equity of 7.42%. The company's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has authorized a stock repurchase 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 buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

About Advanced Micro Devices

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.