Sanders Morris Harris LLC Decreases Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sanders Morris Harris LLC lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 32.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,631 shares of the semiconductor manufacturer's stock after selling 15,351 shares during the quarter. Sanders Morris Harris LLC's holdings in Advanced Micro Devices were worth $3,354,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AMD. Brighton Jones LLC raised its stake in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock worth $5,551,000 after acquiring an additional 29,438 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $34,366,000. Revolve Wealth Partners LLC raised its stake in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after acquiring an additional 234 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter worth about $275,000. Finally, Custom Index Systems LLC raised its stake in shares of Advanced Micro Devices by 4.6% in the fourth quarter. Custom Index Systems LLC now owns 3,560 shares of the semiconductor manufacturer's stock worth $430,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of recent research reports. Loop Capital dropped their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird dropped their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. KeyCorp downgraded shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 8th. Piper Sandler reissued an "overweight" rating and set a $125.00 price target (down from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Finally, Hsbc Global Res raised shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average target price of $132.58.

Advanced Micro Devices Price Performance

NASDAQ AMD traded up $3.90 during trading hours on Monday, reaching $114.63. The company's stock had a trading volume of 34,004,484 shares, compared to its average volume of 41,852,409. The firm's 50-day moving average price is $100.25 and its 200-day moving average price is $112.51. 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 1 year low of $76.48 and a 1 year high of $187.28. The company has a market capitalization of $185.86 billion, a price-to-earnings ratio of 115.79, a PEG ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the firm earned $0.62 EPS. The firm's revenue was up 35.9% compared to the same quarter last year. On average, equities research 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 buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

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.