Daymark Wealth Partners LLC Sells 5,766 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Daymark Wealth Partners LLC decreased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 13.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 37,440 shares of the semiconductor manufacturer’s stock after selling 5,766 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Advanced Micro Devices were worth $3,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Wesbanco Bank Inc. grew its holdings in Advanced Micro Devices by 10.6% during the 1st quarter. Wesbanco Bank Inc. now owns 187,442 shares of the semiconductor manufacturer’s stock valued at $19,258,000 after buying an additional 18,038 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Advanced Micro Devices by 132.2% during the first quarter. First Citizens Bank & Trust Co. now owns 42,769 shares of the semiconductor manufacturer’s stock worth $4,394,000 after acquiring an additional 24,351 shares during the last quarter. Capital Investment Advisors LLC grew its stake in Advanced Micro Devices by 16.3% during the first quarter. Capital Investment Advisors LLC now owns 14,954 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after acquiring an additional 2,092 shares in the last quarter. Tilia Fiduciary Partners Inc. increased its holdings in Advanced Micro Devices by 9.0% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 20,467 shares of the semiconductor manufacturer’s stock valued at $2,103,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Meridian Financial Partners LLC lifted its stake in Advanced Micro Devices by 5.5% in the 1st quarter. Meridian Financial Partners LLC now owns 11,990 shares of the semiconductor manufacturer’s stock worth $1,232,000 after purchasing an additional 620 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the topic of several research reports. Raymond James reaffirmed an “outperform” rating and issued a $120.00 target price (down from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Melius Research set a $110.00 price objective on Advanced Micro Devices in a research note on Wednesday, May 7th. TD Cowen increased their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Jefferies Financial Group lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $120.00 in a report on Thursday, March 27th. Finally, Sanford C. Bernstein decreased 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. Fifteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.58.

Advanced Micro Devices Price Performance

Shares of AMD opened at $116.19 on Monday. The business’s 50-day moving average is $101.39 and its two-hundred day moving average is $111.78. The company has a market capitalization of $188.39 billion, a P/E ratio of 117.36, a P/E/G ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

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

Advanced Micro Devices announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.