Soma Equity Partners LP Trims Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Soma Equity Partners LP trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,790 shares of the semiconductor manufacturer's stock after selling 9,591 shares during the period. Advanced Micro Devices comprises approximately 1.6% of Soma Equity Partners LP's holdings, making the stock its 17th biggest holding. Soma Equity Partners LP's holdings in Advanced Micro Devices were worth $29,689,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMD. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter valued at $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $29,000. Summit Securities Group LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth approximately $32,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $114.99 on Friday. The company has a market cap of $186.45 billion, a PE ratio of 116.15, a P/E/G ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a fifty day moving average price of $98.53 and a two-hundred day moving average price of $115.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83.

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

Advanced Micro Devices declared that its Board of Directors has initiated 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 typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wedbush reiterated an "outperform" rating and issued a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Bank of America boosted their price target on Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday. Morgan Stanley dropped their price target on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Truist Financial set a $130.00 price objective on Advanced Micro Devices in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their target price 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of "Moderate Buy" and a consensus price target of $131.45.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

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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