Hoey Investments Inc. Reduces Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hoey Investments Inc. cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 36.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 830 shares of the semiconductor manufacturer’s stock after selling 475 shares during the quarter. Hoey Investments Inc.’s holdings in Advanced Micro Devices were worth $85,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $25,000. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $29,000. Mpwm Advisory Solutions LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered their target price on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Loop Capital lowered their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Mizuho raised their target price on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Finally, Susquehanna lowered their target price on shares of Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.13.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $116.16 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $188.34 billion, a price-to-earnings ratio of 117.33, a PEG ratio of 1.11 and a beta of 1.99. The stock has a fifty day moving average of $104.51 and a 200 day moving average of $111.50. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results 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 analyst estimates 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 quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has approved a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Advanced Micro Devices 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.