Princeton Capital Management LLC Reduces Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Princeton Capital Management LLC cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 41.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,837 shares of the semiconductor manufacturer's stock after selling 8,522 shares during the quarter. Princeton Capital Management LLC's holdings in Advanced Micro Devices were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AMD. Norges Bank purchased a new stake in Advanced Micro Devices in the 4th quarter worth approximately $2,867,193,000. Toronto Dominion Bank boosted its stake in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock valued at $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Advanced Micro Devices by 20.1% in the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Advanced Micro Devices by 12,097.8% in the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after buying an additional 1,992,508 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ AMD traded up $4.35 during trading hours on Friday, hitting $166.47. The company had a trading volume of 53,186,893 shares, compared to its average volume of 46,238,572. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $174.05. The firm has a 50 day simple moving average of $132.24 and a 200 day simple moving average of $114.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The firm has a market capitalization of $269.91 billion, a price-to-earnings ratio of 122.40, a PEG ratio of 2.20 and a beta of 2.05.

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

Advanced Micro Devices announced that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,998 shares of Advanced Micro Devices stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. HSBC raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $200.00 target price on the stock in a report on Thursday, July 10th. Morgan Stanley reduced their target price on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group raised Advanced Micro Devices to a "hold" rating and set a $140.00 target price on the stock in a report on Thursday, July 10th. Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Evercore ISI set a $144.00 price objective on Advanced Micro Devices and gave the stock an "outperform" rating in a research note on Friday, June 13th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $154.68.

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.