Strategic Advisors LLC Cuts Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Strategic Advisors LLC reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 70.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,706 shares of the semiconductor manufacturer's stock after selling 6,333 shares during the period. Strategic Advisors LLC's holdings in Advanced Micro Devices were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in shares of Advanced Micro Devices during the fourth quarter worth about $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $29,000. Kozak & Associates Inc. lifted its position in Advanced Micro Devices by 67.6% during the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after acquiring an additional 123 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday. Mizuho boosted their price objective on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Robert W. Baird decreased their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Hsbc Global Res raised Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $134.61.

Advanced Micro Devices Trading Up 0.6%

Shares of NASDAQ AMD opened at $127.10 on Wednesday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a market cap of $206.08 billion, a price-to-earnings ratio of 93.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.99. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock's 50 day simple moving average is $106.08 and its 200 day simple moving average is $111.19.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share 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 firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the company earned $0.62 earnings per share. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. Equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

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.

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