Trust Point Inc. Has $349,000 Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Trust Point Inc. trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 37.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,401 shares of the semiconductor manufacturer's stock after selling 2,034 shares during the period. Trust Point Inc.'s holdings in Advanced Micro Devices were worth $349,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $25,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $29,000. Kozak & Associates Inc. boosted its holdings in shares of Advanced Micro Devices by 67.6% in 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 acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $30,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

AMD stock opened at $127.10 on Wednesday. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. 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 firm has a market cap of $206.08 billion, a PE ratio of 93.46, a P/E/G ratio of 1.61 and a beta of 1.99. The business's 50-day moving average price is $106.08 and its two-hundred day moving average price is $111.19.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating 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 business had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same quarter in the previous year, the business posted $0.62 EPS. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, research analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Rosenblatt Securities restated a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Sanford C. Bernstein reduced their price target on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI set a $144.00 price objective on shares of Advanced Micro Devices and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, Jefferies Financial Group cut shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and lowered their price objective for the company from $135.00 to $120.00 in a research report on Thursday, March 27th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $134.61.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of 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. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

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.

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