First United Bank & Trust Sells 3,147 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

First United Bank & Trust reduced its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 31.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,746 shares of the semiconductor manufacturer’s stock after selling 3,147 shares during the quarter. First United Bank & Trust’s holdings in Advanced Micro Devices were worth $693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $25,000. Greenline Partners LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $29,000. Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $31,000. 71.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm’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 sale, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the subject of several research reports. Citigroup lifted their price target on Advanced Micro Devices from $100.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $125.00 price objective (down from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, UBS Group dropped their price objective on Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.23.

Advanced Micro Devices Stock Down 1.7%

Shares of NASDAQ:AMD opened at $121.14 on Thursday. The company has a market capitalization of $196.42 billion, a PE ratio of 122.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The business has a fifty day moving average price of $103.06 and a two-hundred day moving average price of $111.80. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28.

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 analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. Analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has authorized a stock 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 reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.