Means Investment CO. Inc. Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Means Investment CO. Inc. lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 26.8% during the first quarter, HoldingsChannel.com reports. The fund owned 2,810 shares of the semiconductor manufacturer’s stock after selling 1,027 shares during the quarter. Means Investment CO. Inc.’s holdings in Advanced Micro Devices were worth $289,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at $65,897,000. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after buying an additional 1,441,626 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Advanced Micro Devices during the 4th quarter worth $34,366,000. Toronto Dominion Bank increased its stake in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after buying an additional 4,461,609 shares during the period. Finally, Nicolet Bankshares Inc. increased its stake in Advanced Micro Devices by 56.4% during the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer’s stock worth $426,000 after buying an additional 1,271 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 1.1%

Shares of NASDAQ:AMD opened at $128.24 on Friday. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The company has a market cap of $207.93 billion, a PE ratio of 94.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.99. The firm has a 50 day simple moving average of $108.14 and a 200 day simple moving average of $111.10.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices’s revenue was up 35.9% compared to the same quarter last year. During the same period last year, the business posted $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 declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMD shares. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Evercore ISI set a $144.00 price target on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research note on Friday, June 13th. Robert W. Baird dropped their price target on shares of Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Finally, Roth Capital set a $150.00 price target on shares of Advanced Micro Devices and gave the stock a “buy” rating in a research note on Friday, June 13th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.61.

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.