Triangle Securities Wealth Management Trims Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Triangle Securities Wealth Management cut its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 39.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,021 shares of the semiconductor manufacturer’s stock after selling 1,995 shares during the quarter. Triangle Securities Wealth Management’s holdings in Advanced Micro Devices were worth $310,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $29,000. Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $30,000. Finally, Summit Securities Group LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at $31,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMD shares. Raymond James reissued an “outperform” rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Wedbush reissued an “outperform” rating and issued a $120.00 price target (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Sanford C. Bernstein dropped their price target on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group dropped their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.58.

Advanced Micro Devices Stock Up 1.1%

NASDAQ:AMD opened at $118.58 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $100.86 and its two-hundred day moving average is $112.45. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The stock has a market capitalization of $192.27 billion, a price-to-earnings ratio of 119.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.