SeaCrest Wealth Management LLC Reduces Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

SeaCrest Wealth Management LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 33.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,592 shares of the semiconductor manufacturer's stock after selling 9,864 shares during the period. SeaCrest Wealth Management LLC's holdings in Advanced Micro Devices were worth $2,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in Advanced Micro Devices during the fourth quarter worth about $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $29,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC bought a new position in Advanced Micro Devices in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Wall Street Analyst Weigh In

AMD has been the topic of several analyst reports. Loop Capital lowered their price objective on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Melius Research set a $110.00 price objective on Advanced Micro Devices in a research report on Wednesday, May 7th. Raymond James reaffirmed an "outperform" rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Mizuho boosted their target price on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Stifel Nicolaus set a $132.00 price target on Advanced Micro Devices in a report on Monday, April 28th. Fifteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $133.23.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Price Performance

AMD stock traded up $5.54 during trading on Monday, reaching $121.73. The company's stock had a trading volume of 55,290,531 shares, compared to its average volume of 41,554,245. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $197.37 billion, a P/E ratio of 122.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The company's fifty day moving average is $101.39 and its 200-day moving average is $111.78.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results 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. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the business posted $0.62 EPS. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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