Sound Income Strategies LLC Purchases 253 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sound Income Strategies LLC lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.2% in the 1st quarter, Holdings Channel reports. The fund owned 1,728 shares of the semiconductor manufacturer’s stock after acquiring an additional 253 shares during the quarter. Sound Income Strategies LLC’s holdings in Advanced Micro Devices were worth $178,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Advanced Micro Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock worth $4,224,840,000 after acquiring an additional 835,413 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Advanced Micro Devices by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after acquiring an additional 290,784 shares in the last quarter. Norges Bank bought a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Advanced Micro Devices by 9.9% in the 4th 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. Institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMD shares. UBS Group decreased their target price on Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Melius Research set a $110.00 price objective on Advanced Micro Devices in a research report on Wednesday, May 7th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Thursday, May 8th. Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the company a “buy” rating in a research report on Friday. Finally, Seaport Res Ptn raised Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, April 30th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.61.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $126.39 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The firm has a market capitalization of $204.93 billion, a P/E ratio of 127.67, a PEG ratio of 1.11 and a beta of 1.99. The business has a fifty day moving average of $105.48 and a 200 day moving average of $111.08.

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

Advanced Micro Devices declared that its board has authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 approximately $163,607,893.70. The trade was 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 accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Advanced Micro Devices Company 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.