Wedmont Private Capital Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Wedmont Private Capital increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 27.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,687 shares of the semiconductor manufacturer's stock after buying an additional 4,840 shares during the quarter. Wedmont Private Capital's holdings in Advanced Micro Devices were worth $2,119,000 as of its most recent SEC filing.

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

Advanced Micro Devices Stock Up 0.4%

AMD opened at $116.19 on Friday. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The firm has a 50 day moving average price of $101.39 and a 200 day moving average price of $111.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The company has a market cap of $188.39 billion, a PE ratio of 117.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

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

Advanced Micro Devices announced that its board has authorized a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Loop Capital decreased their price target on Advanced Micro Devices from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Raymond James reaffirmed an "outperform" rating and set a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, KeyCorp lowered Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 8th. Fifteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.58.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company 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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