Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,541 shares of the semiconductor manufacturer’s stock after selling 306 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Advanced Micro Devices were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $65,897,000. Vanguard Group Inc. increased its holdings in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. Empire Life Investments Inc. purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $717,000. Union Bancaire Privee UBP SA purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $34,366,000. Finally, bLong Financial LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $1,924,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction on 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird dropped their price objective on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. KeyCorp downgraded Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 8th. Seaport Res Ptn upgraded Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, April 30th. Roth Capital raised their price target on Advanced Micro Devices from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup raised their price target on Advanced Micro Devices from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $134.13.

Advanced Micro Devices Stock Down 2.0%

AMD opened at $116.16 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. The business has a 50 day simple moving average of $104.51 and a 200-day simple moving average of $111.50. The stock has a market capitalization of $188.34 billion, a P/E ratio of 117.33, 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.

Advanced Micro Devices (NASDAQ:AMD) last issued 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 during 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%. Advanced Micro Devices’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, equities analysts anticipate 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 authorized a share buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.