Beech Hill Advisors Inc. Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Beech Hill Advisors Inc. raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 7.7% in the first quarter, Holdings Channel.com reports. The firm owned 9,840 shares of the semiconductor manufacturer’s stock after buying an additional 700 shares during the period. Beech Hill Advisors Inc.’s holdings in Advanced Micro Devices were worth $1,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KG&L Capital Management LLC grew its stake in Advanced Micro Devices by 13.0% in the first quarter. KG&L Capital Management LLC now owns 28,382 shares of the semiconductor manufacturer’s stock worth $2,916,000 after purchasing an additional 3,270 shares in the last quarter. Balefire LLC raised its position in shares of Advanced Micro Devices by 56.7% during the 1st quarter. Balefire LLC now owns 3,343 shares of the semiconductor manufacturer’s stock valued at $343,000 after acquiring an additional 1,209 shares in the last quarter. KPP Advisory Services LLC lifted its stake in Advanced Micro Devices by 10.7% during the first quarter. KPP Advisory Services LLC now owns 5,322 shares of the semiconductor manufacturer’s stock worth $547,000 after purchasing an additional 515 shares during the last quarter. Madrona Financial Services LLC boosted its holdings in Advanced Micro Devices by 9.7% in the first quarter. Madrona Financial Services LLC now owns 2,490 shares of the semiconductor manufacturer’s stock worth $256,000 after purchasing an additional 221 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Advanced Micro Devices by 3.2% during the first quarter. Creative Financial Designs Inc. ADV now owns 3,955 shares of the semiconductor manufacturer’s stock worth $406,000 after purchasing an additional 124 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 value of $1,670,725.00. Following the transaction, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMD shares. Barclays increased their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Bank of America upped their target price on Advanced Micro Devices from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. DZ Bank upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley dropped their target price on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $138.19.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $143.40 on Thursday. The stock has a market cap of $232.51 billion, a PE ratio of 105.44, a price-to-earnings-growth ratio of 1.79 and a beta of 1.99. Advanced Micro Devices, Inc. has a 12 month low of $76.48 and a 12 month high of $187.28. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $110.81 and a 200-day simple moving average of $111.01.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results 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 company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its board has initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors 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.