Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC cut its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,961 shares of the semiconductor manufacturer’s stock after selling 1,221 shares during the period. Miracle Mile Advisors LLC’s holdings in Advanced Micro Devices were worth $2,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMD. Brighton Jones LLC raised its holdings in shares of Advanced Micro Devices by 178.2% in the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer’s stock worth $5,551,000 after acquiring an additional 29,438 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $34,366,000. Revolve Wealth Partners LLC raised its holdings in shares of Advanced Micro Devices by 2.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer’s stock worth $1,001,000 after acquiring an additional 234 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Advanced Micro Devices by 16,019.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 397,030 shares of the semiconductor manufacturer’s stock worth $440,000 after acquiring an additional 394,567 shares during the last quarter. Finally, Appleton Partners Inc. MA acquired a new position in shares of Advanced Micro Devices in the fourth quarter worth $239,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 0.4%

Shares of AMD opened at $116.19 on Monday. The stock’s 50-day moving average is $101.39 and its two-hundred day moving average is $111.78. The stock has a market cap of $188.39 billion, a PE ratio of 117.36, a P/E/G ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. 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) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a stock 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of the business’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 approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. HSBC raised Advanced Micro Devices from a “reduce” rating to a “hold” rating in a report on Tuesday, May 27th. Mizuho lifted their price objective on Advanced Micro Devices from $117.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Wells Fargo & Company lowered their price objective on 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, Loop Capital lowered their price objective on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, 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.