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

Sound Income Strategies LLC lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,728 shares of the semiconductor manufacturer’s stock after purchasing 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Prentice Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 5.2% during the 1st quarter. Prentice Wealth Management LLC now owns 4,551 shares of the semiconductor manufacturer’s stock valued at $468,000 after purchasing an additional 223 shares during the period. Ritholtz Wealth Management raised its stake in shares of Advanced Micro Devices by 1.8% during the 1st quarter. Ritholtz Wealth Management now owns 22,088 shares of the semiconductor manufacturer’s stock valued at $2,269,000 after purchasing an additional 383 shares during the period. Grant Private Wealth Management Inc raised its stake in shares of Advanced Micro Devices by 14.0% during the 1st quarter. Grant Private Wealth Management Inc now owns 11,251 shares of the semiconductor manufacturer’s stock valued at $1,156,000 after purchasing an additional 1,385 shares during the period. Palouse Capital Management Inc. bought a new stake in shares of Advanced Micro Devices during the 1st quarter valued at $1,148,000. Finally, IAG Wealth Partners LLC raised its stake in shares of Advanced Micro Devices by 91.7% during the 1st quarter. IAG Wealth Partners LLC now owns 529 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 253 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AMD. Bank of America boosted their target price on Advanced Micro Devices from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Robert W. Baird reduced their target price on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Loop Capital reduced their target price on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Jefferies Financial Group cut Advanced Micro Devices from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $120.00 in a research report on Thursday, March 27th. Finally, Roth Capital set a $150.00 target price on Advanced Micro Devices and gave the stock a “buy” rating in a research report on Friday. Fifteen equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.61.

Advanced Micro Devices Trading Up 8.8%

Shares of AMD stock opened at $126.39 on Tuesday. The stock has a market capitalization of $204.93 billion, a PE ratio of 127.67, a P/E/G ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $187.28. The business has a 50-day moving average of $105.48 and a 200 day moving average of $111.08. 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 (NASDAQ:AMD) last issued 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 during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its board has approved a share repurchase plan on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices 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 completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate 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.