First Foundation Advisors Sells 2,960 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

First Foundation Advisors lowered its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,829 shares of the semiconductor manufacturer’s stock after selling 2,960 shares during the quarter. Advanced Micro Devices accounts for approximately 0.8% of First Foundation Advisors’ portfolio, making the stock its 28th largest position. First Foundation Advisors’ holdings in Advanced Micro Devices were worth $18,578,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Main Street Financial Solutions LLC increased its stake in Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer’s stock valued at $314,000 after purchasing an additional 98 shares in the last quarter. Peterson Wealth Services increased its stake in Advanced Micro Devices by 2.9% during the 1st quarter. Peterson Wealth Services now owns 3,650 shares of the semiconductor manufacturer’s stock valued at $375,000 after purchasing an additional 103 shares in the last quarter. Lifeworks Advisors LLC increased its stake in Advanced Micro Devices by 5.6% during the 1st quarter. Lifeworks Advisors LLC now owns 1,974 shares of the semiconductor manufacturer’s stock valued at $203,000 after purchasing an additional 104 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its stake in Advanced Micro Devices by 1.5% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer’s stock valued at $957,000 after purchasing an additional 115 shares in the last quarter. Finally, Alaethes Wealth LLC increased its stake in Advanced Micro Devices by 0.7% during the 4th quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer’s stock valued at $1,891,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

AMD has been the subject of a number of recent research reports. Wedbush restated 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. Melius Research raised shares of Advanced Micro Devices from a “hold” rating to a “strong-buy” rating and lifted their price objective for the stock from $110.00 to $175.00 in a report on Monday, June 23rd. Evercore ISI set a $144.00 price objective on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a report on Friday, June 13th. Loop Capital cut their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $132.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 13th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.61.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president owned 1,713,710 shares of the company’s stock, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Up 4.3%

Shares of NASDAQ AMD opened at $173.66 on Tuesday. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $174.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The firm’s 50 day simple moving average is $133.42 and its two-hundred day simple moving average is $114.81. The stock has a market capitalization of $281.57 billion, a P/E ratio of 127.69, a PEG ratio of 2.20 and a beta of 2.05.

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

Advanced Micro Devices announced that its board has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.