Sheets Smith Wealth Management Boosts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sheets Smith Wealth Management grew its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 31.9% in the 1st quarter, HoldingsChannel reports. The firm owned 6,858 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,660 shares during the quarter. Sheets Smith Wealth Management’s holdings in Advanced Micro Devices were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AMD. Greenline Partners LLC purchased a new stake in Advanced Micro Devices during the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $29,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $30,000. Summit Securities Group LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $31,000. Finally, IAG Wealth Partners LLC lifted its stake in Advanced Micro Devices by 74.7% in the fourth quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 118 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMD has been the subject of a number of recent research reports. KeyCorp downgraded Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Thursday, May 8th. Wells Fargo & Company dropped their price objective on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Loop Capital reduced their target price on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $135.00 to $120.00 in a research report on Thursday, March 27th. Thirteen analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.19.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $138.43 on Wednesday. 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 capitalization of $224.45 billion, a P/E ratio of 101.79, a P/E/G ratio of 1.67 and a beta of 1.99. The company has a fifty day moving average of $109.71 and a 200-day moving average of $110.79.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

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.