Atlas Legacy Advisors LLC Cuts Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Atlas Legacy Advisors LLC trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.4% in the first quarter, HoldingsChannel.com reports. The fund owned 3,198 shares of the semiconductor manufacturer’s stock after selling 676 shares during the period. Atlas Legacy Advisors LLC’s holdings in Advanced Micro Devices were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Advanced Micro Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after acquiring an additional 835,413 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock valued at $2,585,079,000 after purchasing an additional 1,929,225 shares during the last quarter. Northern Trust Corp grew its holdings in Advanced Micro Devices by 20.1% during the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares during the period. Invesco Ltd. grew its holdings in Advanced Micro Devices by 7.2% during the fourth quarter. Invesco Ltd. now owns 11,368,317 shares of the semiconductor manufacturer’s stock valued at $1,373,179,000 after purchasing an additional 765,447 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Advanced Micro Devices by 0.9% in the first quarter. Assenagon Asset Management S.A. now owns 8,614,342 shares of the semiconductor manufacturer’s stock worth $885,037,000 after buying an additional 73,657 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Trading Up 2.7%

Shares of AMD stock opened at $166.47 on Monday. The stock has a market capitalization of $269.92 billion, a PE ratio of 122.40, a P/E/G ratio of 2.20 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 business has a 50-day moving average of $132.24 and a 200 day moving average of $114.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate 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 revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has authorized a share buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMD. Evercore ISI set a $144.00 price target on Advanced Micro Devices and gave the company an “outperform” rating in a research report on Friday, June 13th. Wall Street Zen upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. KeyCorp lowered shares of Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Erste Group Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Advanced Micro Devices from $120.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average price target of $154.68.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares of the company’s stock, valued at $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

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.