Advanced Micro Devices, Inc. (NASDAQ:AMD) Stock Position Reduced by Miller Financial Services LLC

Miller Financial Services LLC trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 49.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,685 shares of the semiconductor manufacturer’s stock after selling 3,627 shares during the quarter. Miller Financial Services LLC’s holdings in Advanced Micro Devices were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AMD. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $28,000. Mpwm Advisory Solutions LLC bought a new position in Advanced Micro Devices during the 4th quarter worth $30,000. Summit Securities Group LLC acquired a new stake in Advanced Micro Devices in the fourth quarter worth $31,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Finally, American Capital Advisory LLC boosted its holdings in shares of Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 130 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $156.99 on Monday. The company has a market capitalization of $254.54 billion, a price-to-earnings ratio of 115.43, a P/E/G ratio of 2.08 and a beta of 2.05. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $127.67 and its 200-day simple moving average is $113.20.

Advanced Micro Devices (NASDAQ:AMD) last announced 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 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 8.30% and a net margin of 8.03%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMD shares. DZ Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Thursday, May 8th. Loop Capital reduced 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. Barclays increased their price objective on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Benchmark reaffirmed a “buy” rating and set a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. Finally, Susquehanna decreased their price target on Advanced Micro Devices from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.23.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the transaction, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

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.