Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,489 shares of the semiconductor manufacturer’s stock after selling 186 shares during the period. Legacy Financial Strategies LLC’s holdings in Advanced Micro Devices were worth $256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth $25,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth $29,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth $30,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth $31,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $110.07 on Friday. 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, 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 of $100.25 and a two-hundred day moving average of $112.88. The stock has a market cap of $178.47 billion, a P/E ratio of 111.18, a PEG ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $7.10 billion. During the same quarter last year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the 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 transaction, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This trade represents 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 this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AMD shares. Cantor Fitzgerald restated an “overweight” rating and set a $120.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Wall Street Zen raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Mizuho upped their price target on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Dbs Bank cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Argus set a $160.00 price target on shares of Advanced Micro Devices in a research report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.58.

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.