Shikiar Asset Management Inc. Sells 51,161 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Shikiar Asset Management Inc. decreased its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 77.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,126 shares of the semiconductor manufacturer's stock after selling 51,161 shares during the quarter. Shikiar Asset Management Inc.'s holdings in Advanced Micro Devices were worth $1,554,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Advanced Micro Devices during the fourth quarter worth approximately $2,867,193,000. Toronto Dominion Bank boosted its position in Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC boosted its position in Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after purchasing an additional 2,889,739 shares during the period. Northern Trust Corp boosted its position in Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Finally, GAMMA Investing LLC boosted its position in Advanced Micro Devices by 12,097.8% during the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after purchasing an additional 1,992,508 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Down 2.0%

Shares of Advanced Micro Devices stock opened at $116.16 on Monday. The business's 50 day simple moving average is $104.51 and its 200 day simple moving average is $111.15. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The firm has a market cap of $188.34 billion, a PE ratio of 117.33, a P/E/G ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS. On average, analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

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

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 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 directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMD shares. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. KeyCorp lowered Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Loop Capital cut their price target on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company cut their price target on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Susquehanna cut their price target on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.13.

Advanced Micro Devices 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.

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