Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 107.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,761 shares of the semiconductor manufacturer's stock after buying an additional 2,982 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Advanced Micro Devices were worth $592,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Main Street Financial Solutions LLC raised its holdings in shares of Advanced Micro Devices by 3.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer's stock valued at $314,000 after acquiring an additional 98 shares during the period. Plancorp LLC grew its position in Advanced Micro Devices by 2.2% during the 4th quarter. Plancorp LLC now owns 5,134 shares of the semiconductor manufacturer's stock worth $620,000 after purchasing an additional 112 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its stake in Advanced Micro Devices by 1.5% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,922 shares of the semiconductor manufacturer's stock valued at $957,000 after purchasing an additional 115 shares during the period. Alaethes Wealth LLC lifted its holdings in shares of Advanced Micro Devices by 0.7% in the fourth quarter. Alaethes Wealth LLC now owns 15,656 shares of the semiconductor manufacturer's stock valued at $1,891,000 after purchasing an additional 115 shares in the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of Advanced Micro Devices by 4.3% in the first quarter. Sunflower Bank N.A. now owns 2,808 shares of the semiconductor manufacturer's stock worth $288,000 after buying an additional 116 shares during the period. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $137.93 on Friday. The stock has a 50-day simple moving average of $117.01 and a 200 day simple moving average of $111.49. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The stock has a market capitalization of $223.64 billion, a PE ratio of 101.42, a P/E/G ratio of 1.79 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the business posted $0.62 EPS. The company's revenue for the quarter was up 35.9% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Melius raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research report on Monday, June 23rd. DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price on the stock in a report on Thursday, May 8th. Dbs Bank cut shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Robert W. Baird lowered their price objective on shares of Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, KeyCorp downgraded shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $138.74.

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.

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