Central Pacific Bank Trust Division Purchases 5,294 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Central Pacific Bank Trust Division grew its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 40.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,435 shares of the semiconductor manufacturer's stock after purchasing an additional 5,294 shares during the period. Central Pacific Bank Trust Division's holdings in Advanced Micro Devices were worth $1,894,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMD. Vanguard Group Inc. increased its position in shares of 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 valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Advanced Micro Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer's stock valued at $4,224,840,000 after acquiring an additional 835,413 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer's stock valued at $2,909,350,000 after acquiring an additional 290,784 shares during the last quarter. Norges Bank acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Advanced Micro Devices by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer's stock valued at $2,585,079,000 after acquiring an additional 1,929,225 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMD shares. Raymond James reaffirmed an "outperform" rating and issued a $120.00 target price (down previously from $150.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Stifel Nicolaus set a $132.00 price target on Advanced Micro Devices in a research report on Monday, April 28th. DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price target on the stock in a research report on Thursday, May 8th. Summit Insights raised Advanced Micro Devices to a "hold" rating in a research report on Tuesday, February 4th. Finally, Benchmark reissued a "buy" rating and set a $170.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, February 18th. Fifteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.58.

Advanced Micro Devices Trading Up 3.5%

NASDAQ:AMD traded up $3.90 during trading hours on Monday, hitting $114.63. 34,004,484 shares of the company were exchanged, compared to its average volume of 41,853,516. The stock has a market capitalization of $185.86 billion, a price-to-earnings ratio of 115.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.97. 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, Inc. has a one year low of $76.48 and a one year high of $187.28. The company has a fifty day simple moving average of $100.34 and a 200 day simple moving average of $112.37.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced 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. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the company earned $0.62 EPS. Advanced Micro Devices's revenue for the quarter was up 35.9% compared to the same quarter last year. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock buyback 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.