Advanced Micro Devices, Inc. (NASDAQ:AMD) EVP Mark D. Papermaster Sells 17,998 Shares

Advanced Micro Devices, Inc. (NASDAQ:AMD) EVP Mark D. Papermaster sold 17,998 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Advanced Micro Devices Trading Down 2.1%

Shares of AMD stock opened at $156.99 on Friday. 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 has a market cap of $254.54 billion, a P/E ratio of 115.43, a PEG ratio of 2.12 and a beta of 2.05. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05. The firm’s 50-day simple moving average is $127.67 and its 200-day simple moving average is $113.30.

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. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. As a group, equities analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has approved a stock buyback program on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Advanced Micro Devices

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Advanced Micro Devices by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 152,367,351 shares of the semiconductor manufacturer’s stock worth $15,654,222,000 after purchasing an additional 2,157,199 shares in the last quarter. Geode Capital Management LLC grew its stake in Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after buying an additional 835,413 shares during the period. Norges Bank purchased a new stake in Advanced Micro Devices during the fourth quarter worth approximately $2,867,193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock worth $2,585,079,000 after acquiring an additional 1,929,225 shares in the last quarter. Finally, Amundi raised its stake in shares of Advanced Micro Devices by 8.0% in the 1st quarter. Amundi now owns 17,829,010 shares of the semiconductor manufacturer’s stock valued at $1,677,014,000 after acquiring an additional 1,319,064 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of Advanced Micro Devices in a research report on Friday, June 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $120.00 price objective (down from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective 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 target price on the stock in a research report on Thursday, May 8th. Finally, Roth Capital set a $150.00 price target on Advanced Micro Devices and gave the company a “buy” rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices presently has an average rating of “Moderate Buy” and an average target price of $153.23.

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.