Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,008 shares of the semiconductor manufacturer’s stock after selling 7,714 shares during the quarter. Western Wealth Management LLC’s holdings in Advanced Micro Devices were worth $2,158,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMD. Norges Bank acquired a new position in Advanced Micro Devices in the fourth quarter worth $2,867,193,000. Toronto Dominion Bank boosted its holdings in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock valued at $364,459,000 after acquiring an additional 2,889,739 shares during the period. Northern Trust Corp boosted its holdings in shares of Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after acquiring an additional 2,874,012 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Advanced Micro Devices by 12,097.8% during the first quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer’s stock valued at $206,402,000 after acquiring an additional 1,992,508 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMD shares. Barclays boosted their price target on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Piper Sandler upped their price objective on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Mizuho upped 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. Sanford C. Bernstein reduced their price objective on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus target price of $138.19.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $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 available at this link. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $143.68 on Friday. The stock’s 50-day moving average price is $111.93 and its two-hundred day moving average price is $111.10. 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 company has a market cap of $232.96 billion, a PE ratio of 105.65, a PEG ratio of 1.85 and a beta of 1.99. 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) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are 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.