Janney Montgomery Scott LLC Sells 55,620 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Janney Montgomery Scott LLC lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 21.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,988 shares of the semiconductor manufacturer’s stock after selling 55,620 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Advanced Micro Devices were worth $20,444,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMD. Mission Wealth Management LP increased its position in Advanced Micro Devices by 3.0% during the 1st quarter. Mission Wealth Management LP now owns 33,185 shares of the semiconductor manufacturer’s stock valued at $3,409,000 after purchasing an additional 980 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Advanced Micro Devices by 38.1% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 5,344 shares of the semiconductor manufacturer’s stock worth $549,000 after buying an additional 1,474 shares during the last quarter. Pflug Koory LLC boosted its stake in Advanced Micro Devices by 2.8% in the 1st quarter. Pflug Koory LLC now owns 5,095 shares of the semiconductor manufacturer’s stock worth $523,000 after purchasing an additional 139 shares in the last quarter. Cyndeo Wealth Partners LLC grew its position in Advanced Micro Devices by 5.7% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 25,028 shares of the semiconductor manufacturer’s stock worth $2,571,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Keystone Wealth Services LLC boosted its holdings in shares of Advanced Micro Devices by 5.3% in the 1st quarter. Keystone Wealth Services LLC now owns 7,591 shares of the semiconductor manufacturer’s stock valued at $780,000 after acquiring an additional 383 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD opened at $126.79 on Thursday. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The firm has a market cap of $205.58 billion, a PE ratio of 93.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The business has a fifty day moving average of $106.68 and a 200-day moving average of $111.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the business posted $0.62 EPS. Advanced Micro Devices’s revenue was up 35.9% on a year-over-year basis. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

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

Analysts Set New Price Targets

AMD has been the topic of several recent analyst reports. Loop Capital decreased their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Bank of America increased their price objective on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Mizuho increased their price objective on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Dbs Bank downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, UBS Group decreased their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $134.61.

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.