Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock Position Reduced by Trivant Custom Portfolio Group LLC

Trivant Custom Portfolio Group LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 58.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,566 shares of the semiconductor manufacturer's stock after selling 14,753 shares during the period. Trivant Custom Portfolio Group LLC's holdings in Advanced Micro Devices were worth $1,086,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Main Street Financial Solutions LLC lifted its position in Advanced Micro Devices by 3.9% in the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 98 shares during the last quarter. BCM Advisors LLC lifted its position in Advanced Micro Devices by 0.9% in the 4th quarter. BCM Advisors LLC now owns 12,197 shares of the semiconductor manufacturer's stock valued at $1,366,000 after purchasing an additional 103 shares during the last quarter. Sunpointe LLC lifted its position in Advanced Micro Devices by 6.4% in the 4th quarter. Sunpointe LLC now owns 1,784 shares of the semiconductor manufacturer's stock valued at $216,000 after purchasing an additional 108 shares during the last quarter. Plancorp LLC lifted its position in Advanced Micro Devices by 2.2% in the 4th quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock valued at $620,000 after purchasing an additional 112 shares during the last quarter. Finally, Simmons Bank lifted its position in Advanced Micro Devices by 5.4% in the 4th quarter. Simmons Bank now owns 2,198 shares of the semiconductor manufacturer's stock valued at $265,000 after purchasing an additional 113 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMD. Bank of America lifted their price objective on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Melius Research set a $110.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Wedbush restated an "outperform" rating and set a $120.00 price target (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Stifel Nicolaus restated a "buy" rating and set a $132.00 price target on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Hsbc Global Res upgraded shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of "Moderate Buy" and a consensus price target of $134.61.

Advanced Micro Devices Trading Up 1.1%

Shares of Advanced Micro Devices stock traded up $1.45 during trading on Friday, hitting $128.24. The stock had a trading volume of 79,777,415 shares, compared to its average volume of 41,759,649. The stock has a 50 day simple moving average of $107.44 and a 200 day simple moving average of $111.19. The company has a market capitalization of $207.93 billion, a PE ratio of 94.29, a P/E/G ratio of 1.64 and a beta of 1.99. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released 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. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has approved a share 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically 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.