Cary Street Partners Financial LLC Makes New Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cary Street Partners Financial LLC acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,337 shares of the semiconductor manufacturer's stock, valued at approximately $4,027,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $2,867,193,000. Kovitz Investment Group Partners LLC raised its position in shares of Advanced Micro Devices by 2,265.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after acquiring an additional 2,889,739 shares in the last quarter. Northern Trust Corp boosted its position in shares of Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after purchasing an additional 2,874,012 shares in the last quarter. Van ECK Associates Corp grew its stake in Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Advanced Micro Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after purchasing an additional 1,441,626 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Advanced Micro Devices Stock Up 1.3 %

Shares of AMD traded up $1.30 during midday trading on Thursday, hitting $101.66. 54,110,135 shares of the company's stock traded hands, compared to its average volume of 42,536,532. The firm's fifty day moving average is $97.30 and its 200-day moving average is $117.39. The stock has a market capitalization of $164.31 billion, a price-to-earnings ratio of 102.69, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same quarter last 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 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their price target on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Raymond James reissued an "outperform" rating and issued a $120.00 price objective (down previously from $150.00) on shares of Advanced Micro Devices in a research note on Wednesday. The Goldman Sachs Group lowered Advanced Micro Devices from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $175.00 to $129.00 in a research report on Friday, January 10th. Finally, Citigroup reissued a "buy" rating on shares of Advanced Micro Devices in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $131.13.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 directly owns 1,713,710 shares of the company's stock, valued at approximately $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. Also, EVP Philip Guido bought 4,645 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the purchase, the executive vice president now owns 33,522 shares of the company's stock, valued at $3,605,626.32. The trade was a 16.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.06% of the company's stock.

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.