Proactive Wealth Strategies LLC Trims Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Proactive Wealth Strategies LLC lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,880 shares of the semiconductor manufacturer’s stock after selling 210 shares during the period. Proactive Wealth Strategies LLC’s holdings in Advanced Micro Devices were worth $501,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management raised its position in Advanced Micro Devices by 31.9% in the 1st quarter. Sheets Smith Wealth Management now owns 6,858 shares of the semiconductor manufacturer’s stock valued at $705,000 after purchasing an additional 1,660 shares in the last quarter. St. Johns Investment Management Company LLC raised its stake in Advanced Micro Devices by 12.4% in the first quarter. St. Johns Investment Management Company LLC now owns 7,436 shares of the semiconductor manufacturer’s stock valued at $764,000 after buying an additional 822 shares in the last quarter. Sava Infond d.o.o. lifted its holdings in Advanced Micro Devices by 135.7% during the 1st quarter. Sava Infond d.o.o. now owns 1,650 shares of the semiconductor manufacturer’s stock worth $170,000 after buying an additional 950 shares during the last quarter. Petros Family Wealth LLC boosted its position in shares of Advanced Micro Devices by 20.1% during the 1st quarter. Petros Family Wealth LLC now owns 3,782 shares of the semiconductor manufacturer’s stock worth $389,000 after acquiring an additional 633 shares in the last quarter. Finally, Keudell Morrison Wealth Management increased its holdings in shares of Advanced Micro Devices by 63.1% in the 1st quarter. Keudell Morrison Wealth Management now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $409,000 after acquiring an additional 1,541 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Trading Up 1.0%

Advanced Micro Devices stock opened at $129.58 on Tuesday. The stock has a market cap of $210.10 billion, a PE ratio of 95.28, a P/E/G ratio of 1.66 and a beta of 1.99. 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 has a 50-day moving average price of $108.84 and a 200 day moving average price of $110.59. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $7.10 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. Equities research 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 approved a share buyback plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. HSBC upgraded Advanced Micro Devices from a “reduce” rating to a “hold” rating in a research report on Tuesday, May 27th. Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. Evercore ISI set a $144.00 price target on Advanced Micro Devices and gave the stock an “outperform” rating in a research note on Friday, June 13th. Finally, Sanford C. Bernstein reduced their price objective on Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Thirteen investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.19.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was 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 directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by 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.