Prentice Wealth Management LLC Acquires 223 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Prentice Wealth Management LLC boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,551 shares of the semiconductor manufacturer’s stock after purchasing an additional 223 shares during the period. Prentice Wealth Management LLC’s holdings in Advanced Micro Devices were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in Advanced Micro Devices during the 4th quarter valued at $25,000. Greenline Partners LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter worth about $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Advanced Micro Devices during the fourth quarter valued at about $29,000. Kozak & Associates Inc. lifted its stake in shares of Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $30,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Down 2.0%

Shares of NASDAQ AMD opened at $116.16 on Friday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $187.28. The firm’s 50-day simple moving average is $104.51 and its 200 day simple moving average is $111.33. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market cap of $188.34 billion, a price-to-earnings ratio of 117.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 35.9% on a year-over-year basis. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related 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 transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AMD. Hsbc Global Res raised Advanced Micro Devices from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 27th. Morgan Stanley cut their target price on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. HSBC raised Advanced Micro Devices from a “reduce” rating to a “hold” rating in a research report on Tuesday, May 27th. Citigroup boosted their price target on shares of Advanced Micro Devices from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, June 9th. Finally, Sanford C. Bernstein reduced their price objective on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Fifteen 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $134.13.

Advanced Micro Devices 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.